EURUSD nosedive beyond Corona? - A fundamental outlook
For a great amount of time, the EURUSD pair has been falling continuously. And it's falling so greatly that has broken its 2 year's low with a snap as predicted! (see a grey circle and For analysis check the related idea)
The pair enjoying a halt at current levels but, IS THE MARKET WILLING TO PUSH IT EVEN LOWER?
The answer could be YES!
There could be several reasons behind this as follows:
1. Economic comparison: EUR is getting weaker as eurozone not performing well. as well as German ZEW sentiment was fairly negative and export-based sectors not doing well.
2. Brexit brawl really did badly for the EUR.
3. +ve US Q4: Q4 report for the US indicated that the US economy is outperforming the Eurozone.
4. +ve January NFP: This was an important factor in strengthening currency
5. Corona fears: Increasing Corona cases are increasing fears in the market as well which helps USD as a safe heaven.
6. Weakened other safe heavens: Other safe heavens as Japan seems to be safe no more as Japan is also reporting increasing Corona cases, as well as Japanese export, is also not doing well, luring investors to Dollar.
Conclusion: EURUSD pair is falling continuously and having good prospects for the 1.0700ish levels.
Happy trading!
_____________________________________________
✅First 100 PIPs free on!
For more details: Telegram : tradingmoore Twitter: gmoore0715
The pair enjoying a halt at current levels but, IS THE MARKET WILLING TO PUSH IT EVEN LOWER?
The answer could be YES!
There could be several reasons behind this as follows:
1. Economic comparison: EUR is getting weaker as eurozone not performing well. as well as German ZEW sentiment was fairly negative and export-based sectors not doing well.
2. Brexit brawl really did badly for the EUR.
3. +ve US Q4: Q4 report for the US indicated that the US economy is outperforming the Eurozone.
4. +ve January NFP: This was an important factor in strengthening currency
5. Corona fears: Increasing Corona cases are increasing fears in the market as well which helps USD as a safe heaven.
6. Weakened other safe heavens: Other safe heavens as Japan seems to be safe no more as Japan is also reporting increasing Corona cases, as well as Japanese export, is also not doing well, luring investors to Dollar.
Conclusion: EURUSD pair is falling continuously and having good prospects for the 1.0700ish levels.
Happy trading!
_____________________________________________
✅First 100 PIPs free on!
For more details: Telegram : tradingmoore Twitter: gmoore0715
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