Sforex
Short

EURUSD: Markit PMI + Draghi Speech in the focus: Under pressure

FX:EURUSD   Euro / U.S. Dollar
825 0 5
I'm not surprised about the falling of EURUSD             , like I said in recent topic, the main reasons why E/U fall down :

- EZ weak data.
- Market pricing for FED 'liftoff"

The falling of EURUSD             doesn't stop easlily now, and it's still under strong pressure.

The market appetite is shifting, and the fact that EUR is funding currency is fading.

Tomorrow, market pays all attention to:

- EZ markit PMI
- Mario Draghi Speech in Brussel
- US Markit manufacturing PMI

EZ Data recently is very negative especially France, and this quickly transfer to PMI data; while I think the tone of Draghi is very very dovish express the concern about slow recovery of EZ.

I favor SHORT EURUSD             to 1.08

- Technical Analysis

EURUSD             once trades below SMA200 , and I think this is a valuable signal showing that EURUSD             continue this downtrend.

While I see it also breaks the trend line .

Nearly E/U moved below Kumo cloud.

All contribute to the strong pressure on E/U

IN MY OPINION, I SEE EURUSD             WILL FALL TO 1.100 FIRST, AND 1.08

I CONTINUE SHORT E/U TO THOSE LEVELS.

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