The EUR/USD currency pair might fall in the medium term. The price has already reached EMA 50, EMA 100, and EMA 200, and the MACD crosses from positive territory to negative territory on the daily chart. A downward trend is already confirmed, as the RSI oscillator stays above 50 on the weekly chart.
The euro fell sharply against the dollar this month after the European Central Bank (ECB) unveiled a series of market-friendly policies amid a slew of rising risks. The euro zone’s central bank slashed its growth forecast for 2019 to 1.1 percent from an earlier forecast of 1.7 percent made in December.
The most important data from this week:
France GDP QoQ (0.3% expectation); (0.3%previous)
YoY (0.9% expectation); ( 0.9% previous)
ECB President Mario Draghi speaks in Frankfurt
US GDP QoQ (+2.4% expectation); (+2.6% previous )
YoY (+2.6% expectation); (+2.8% previous)
Germany CPI MoM (+0.6% expectation); (+0.4% previous)
YoY (+1.5% expectation); (+1.5% previous)
Germany Unemployment Change (-10k expectation); (-21k previous)
Rate (4.9% expectation); (5.0% previous)