EURUSD - Small Recovery Before Another Drop
The Euro (EUR) didn't move much on Wednesday, but it's been down lately.
European economic data is weak, and some people think the European Central Bank (ECB) might cut interest rates soon. Here are some key things to watch:
Key points:
From a technical analysis point of view, combined with upcoming financial news, we believe that Euro will push to the upside to 1.0800 price zone and then reverse down to drop to 1.0650 price zone at a minimum.
European economic data is weak, and some people think the European Central Bank (ECB) might cut interest rates soon. Here are some key things to watch:
- Germany's industrial production fell more than expected in December. This could be a sign that the European economy is slowing down.
- The ECB will release its Economic Bulletin on Thursday. This report could give clues about when the ECB might cut rates.
- Germany's inflation data is due on Friday. If inflation is lower than expected, it could strengthen the case for a rate cut.
- The US Federal Reserve is also considering rate cuts, but they are being cautious. They want to make sure inflation is under control before they start cutting rates.
Key points:
- EUR/USD is weak due to concerns about the European economy.
- ECB might cut rates soon if inflation falls.
- US Fed is also considering rate cuts, but they are being cautious.
From a technical analysis point of view, combined with upcoming financial news, we believe that Euro will push to the upside to 1.0800 price zone and then reverse down to drop to 1.0650 price zone at a minimum.
