EUR/USD: It’s a Hard Time for the Euro

Germany Composite Output Index ticked up from a 69-month low of 51.4 in March to 52.1 in April. But that's not enough...


Most of the economic releases from the Eurozone came out worse than expected. Germany’s private sector sees modest growth in April as resilient services performance continues to offset manufacturing weakness.

The Flash Germany Composite Output Index ticked up from a 69-month low of 51.4 in March to 52.1 in April. But German Flash Manufacturing PMI slipped to 44.5 vs. 45.2.

EUR/USD met support at 1.1280 but violated it without any problem. Next support prevails at 1.12500 and that’s where we can expect the EUR/USD to stay. However, in case of a breakout, the next support can stay around 1.1220.

Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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