ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD Can Update Bottom Level of 20 Years
The European economy faces strong risks of recession over the indefinite natural gas cuts of the Russian energy company Gazprom. Indeed, the performance of Germany's locomotive sector, which is the largest economy in the region, reveals this. According to Destatis, industrial production in Germany contracted by 0.3 percent in July compared to the previous month and 1.1 percent on an annual basis. The euro, which has difficulty in finding demand against the dollar under this outlook, is at its lowest level in 20 years. The euro, which has difficulty in finding demand against the dollar under this outlook, is at its lowest level in 20 years. At this point, in the persistence of the closures of the parity below the psychological boundary line of 1.0000, the sales may force the consolidated withdrawal to land at 0.9785, which is indicated by the Fibonacci 100.0 percent expansion line behind 0.9850. At this point, in the persistence of the closures of the parity below the psychological boundary line of 1.0000, the sales may force the consolidated withdrawal to land at 0.9785, which is indicated by the Fibonacci 100.0 percent expansion line behind 0.9850.
