EURUSD Down Because Brexit and Germany Could Enter Recession
Fundamentals are fairly important in financial markets. Its why I spend so much time on them. This is how I came to the ultimate conclusion that the trend of EURUSD is down mainly because Brexit, updates of which you can find here: anthonylaurence.wordpress.com/2019/03/31/brexit-updates-votes-on-monday-expect-more-pound-volatility-for-the-rest-of-week/ While economic data out of the Eurozone was somewhat favorable at the start of the week with the IFO Business Climate Index, consumer confidence was weaker in Germany. Such negative sentiment caused ECB President Draghi to assert that the ECB would step in should the need arise in financial markets. This didn't budge the euro at all. In short, Brexit isn't trending well although it could lead to a conclusion. This would break the euro out of the downward channel, but in the short-term investors will probably continue to witness this price action, at least until April 12th before which we will probably see an extension if no deal is reached. For more analysis, check out anthonylaurence.wordpress.com
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