Current trend structure: bearish in down trend channel
Currently testing important resistance
How bad is the European banking sector? New statements from the ranks of the European Central Bank suggest that the financial institutions on the home continent may once again hope for the help of the ECB. Whether they depend on it is another matter. There are signs for bearish trend continuation and that is not really reassuring.
The latest news from the European banking scene suggests that the money houses are not doing very well. This is also stated by ECB chief economist Peter Praet. According to him, the banks are not profitable in the euro area. There is a danger that they could increase the downward trend of the economy through pro-cyclical behavior. One solution could be new long-term refinancing operations (TLTROs). "The discussion will soon take place in the Council of the ECB."
Currently testing important resistance
How bad is the European banking sector? New statements from the ranks of the European Central Bank suggest that the financial institutions on the home continent may once again hope for the help of the ECB. Whether they depend on it is another matter. There are signs for bearish trend continuation and that is not really reassuring.
The latest news from the European banking scene suggests that the money houses are not doing very well. This is also stated by ECB chief economist Peter Praet. According to him, the banks are not profitable in the euro area. There is a danger that they could increase the downward trend of the economy through pro-cyclical behavior. One solution could be new long-term refinancing operations (TLTROs). "The discussion will soon take place in the Council of the ECB."
Trade closed: stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
