Is the Euro going to break down?

27 нояб. 2021 г.

The Euro is being under bearish pressure for some fundamental and technical reasons. Fundamentally, the European economic recovery is still not as sufficient as what the US economic recovery succeeded this year earlier, especially highly populated vaccination, Biden's economic rescue package, a steadily hawkish Fed etc. A few years ago, Mario Draghi said the US economy is better than the eurozone economy, so that will definitely pressure to weaken the Euro.

Technically, the uptrend line from 1985 to 2020 showed successfully supporting the Euro at least 4 times but probably it will bring much bearish pressure on the Euro to break down below the critical uptrend line.