Trends | Thursday, 25 May 2023 at 15:09
The continuation of the positive momentum of the US dollar allowed the bears to bring the price of the EURUSD currency to deeper support levels and reached the lowest of the currency pair in two months.Markets predict new important and effective US data. Despite the concerns about the future of the US dollar, the US dollar, the US economic data and the policy officials of the US federal reserve, until the US inflation reaches the future of the bank's policy of other factors represented from other factors represented from the signals of the future.. Bank's goal. On the other hand, German work trust fell for the first time in seven months in May, because since the managers are skeptical in the midst of the increasing fears of the stagnation in the United States, the survey data from the Institute of IFO showed the survey data on Wednesday.The index fell more to 91.7 in May 93.4 of the previous month.They were a little less satisfied. The current status index fell from 95.1 to 94.8 in May.Commenting on the results, Carsten Brzeski said in Ing, an economist said After a decrease of 0.5 percent in the fourth quarter of 2022, the German economy is likely to be suppressed with a large number of short and long -term challenges.Gross Domestic Product avoided a technical stagnation with stagnation. The first quarter GDP results will be held on May 25th. In the manufacturing industry, the IFO survey revealed that business confidence is much worse with expectations that have published the biggest decline since March 2022.Managers saw the current situation less positive. And in the service industry, the trust in May has not changed almost. Although the companies were more satisfied with their current situation, they were more pessimistic about the coming months.The skepticism of the angle increased significantly. EURUSD Technical View There is no change in my technical view of the performance of the EURUSD currency couple, which is still a decline, and as I mentioned earlier, to move below the psychological support level at 1,0800 will support the trend control of bears. Currently, the closest targets for the current trend are support levels in 1,0710, 1,0650 and 1,0600, respectively. On the other hand and for the same time period, the psychological resistance in 1.1000 will remain the key to the bulls that control the direction. Low EURUSD currency pair, the announcement of the German economic growth rate, the GFK reading of the German consumer trust climate, then the US economic growth rate, the number of unemployed claims and the number of US house sales. Forex is ready to trade daily analysis and estimates? Gotopnews.com
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