The euro has been down right here earlier than
The excellent news immediately is within the eurozone periphery the place Italian 10-year yields are down 9 foundation factors to 2.66% to the bottom since July.
The dangerous information is within the core the place there may be speak of the German authorities decreasing its 2019 GDP forecast to 1.zero% from 1.Eight%.
Now, the euro is threatening the January low of 1.1280. That is on the higher fringe of a collection of lows that date again to mid-November and are clear on the Eight-hour chart.
If this zone provides manner be careful for stops and a run to 1.1215. It will be bearish within the medium-term as nicely.