The Euro is under pressure - Forex News by FX Leaders

The Euro is under pressure

Posted Monday, May 23, 2016 by
Skerdian Meta • 1 min read

The Euro remains under pressure after the miss this morning in the Eurozone manufacturing and service numbers. The manufacturing data came at 51.5 against 61.9 expected, which is the lowest number in 16 months. EUR/USD is headed down but the 1.12 level is still holding. If that goes the next target would be last week´s low at 1.1170s and the 1.11 and 1.1050 which is the ultimate support level. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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