forex EUR/USD: Eurozone Investment Faces Decline in Months to Come

[Anzo Lim 0]

https://jump.wikifx.com/83348CF26389B46D

ECB Chief Economist Philip Lane said on Wednesday that the central bank is about to decide on launching a monetary policy review. Despite massive fiscal stimulus in the past years, the ECB policy makers still face many challenges in boosting inflation of the Eurozone.

 

The ABN AMRO Bank noted that as industrial production and business confidence have been declining in the past 6 quarters, the fixed investment can be affected by several factors in the upcoming quarters, and the total investment of the Eurozone may continue to decline for quarters to come.

 

Technically, the euro-dollar rate is currently at 50% of the declining trend from November 4^th to November 14^th, which is a key position; whether it can break through the major resistance of 1.1080 will be crucial for the future performance of the currency pair.

 

EUR/USD daily pivot points: 1.1066---1.1072

S1: 1.1058                  R1: 1.1086

S2: 1.1041                  R2: 1.1097

Edited November 21, 2019 by Anzo Lim