Fears that Germany may fall into a recession causes concern and weighs heavy on the EUR. Germany’s Central Bank signals warnings that the country may slip into a recession, predicting lower GDP numbers in the coming quarters.
Germany depends on exports to China and The United States, which are currently in a bitter trade war. Also, weak global auto sales hurts the sector for carmakers.
Let’s not forget the country is still concerned about a disorderly Brexit deal, this is weighing heavy on the EUR as well. This is an opportunity for price to trade toward the downside and bounce of the harmonic pattern.
Germany depends on exports to China and The United States, which are currently in a bitter trade war. Also, weak global auto sales hurts the sector for carmakers.
Let’s not forget the country is still concerned about a disorderly Brexit deal, this is weighing heavy on the EUR as well. This is an opportunity for price to trade toward the downside and bounce of the harmonic pattern.