Technical Analysis

Euro sinks under 1.1300, nears essential space of assist

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.

euro 8 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.
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