ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD Continues to Price at 20-Year Lows
In the Euro Zone; According to the preliminary reading data of IHS Markit and S&P Global for August, the decline in the composite PMI data increased the pressure on the pair, signaling that the economic activity in the region lost momentum and the weakening in many sectors kept the recession risks alive. In addition, it is seen that the dollar continues to weigh on the currencies of developed countries with the hawkish statements from the FED officials recently. Technically speaking, if the EURUSD parity, which continues its downward trend on the second trading day of the week, can be passed below the 0.9890 level permanently, it can bring the 0.9850 support to the target position. In upside attempts, 0.9975 and 1.0020 resistances can be followed.
