EURUSD Price Latest: Negative Sentiment Pushing Prices Lower
EURUSD and German ZEW Data:
- German current conditions worsen, economic sentiment nudges higher.
- EURUSD likely to test the 1.1300 level.
EURUSD Touches a Two-Week Low
The latest ZEW readings confirmed that German, and the single-block, sentiment remains negative, confirming recent data. The German economic sentiment reading ticked 2.5 points higher to -15.0 and despite this increase the reading remains well below the long-term average of 22.4 points. The current situation assessment fell sharply, down 17.7 points to 27.6, the lowest reading since January 2015.
The Euro-Zone economic assessment rose a mere 0.1 points to -20.9, while the current economic situation in the Euro-Zone fell by 6.8 points to 5.3.
The Euro fell further against the US dollar and hit a two week+ low and is likely to fall further with 1.1300 the next target. A break below here opens the 1.1265 area ahead of the November 12 low at 1.1215. The pair remain all three moving averages and continue the bear move off the January 10, 1.1570 high.
EURUSD Daily Price Chart (August 2018 – January 22, 2019)
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