EUR/USD: It’s a Hard Time for the Euro - Forex News by FX Leaders

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

Posted Thursday, April 18, 2019 by
Arslan Butt • 1 min read

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!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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