EURO FORECAST & EUR PRICE ANALYSIS: EUR/USD & EUR/JPY PLUNGE TOWARD TREND SUPPORTThe Euro has taken a steep tumble as we
EURO FORECAST & EUR PRICE ANALYSIS: EUR/USD & EUR/JPY PLUNGE TOWARD TREND SUPPORT
- The Euro has taken a steep tumble as we embark into the brand new decade amid discouraging financial knowledge despite current ECB stimulus measures
- EUR/USD value motion has swooned by about 3.5% since December 31 and has steered the world’s most liquid foreign money pair to 3-year lows
- EUR/JPY may sink additional if risk-aversion lingers because of the financial shock stemming from the coronavirus outbreak
Euro weak point has accelerated as of late with EUR value motion falling by 3.4% on stability for the reason that begin of the yr in response to the EXY Euro Forex Index with spot EUR/USD plunging about 380-pips over the identical timeframe.
EUR/USD PRICE CHART & EUROZONE ECONOMIC SURPRISE INDEX (CITI)
Draw back within the Euro could be primarily attributed to a stubbornly-sluggish Eurozone financial system and is broadly mirrored by a nosedive within the Citi Eurozone financial shock index just lately.
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