ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD May Continue to Retreat
Although we saw some recovery in the euro with the effect of the hawkish statements of some of the leading Board Members of the European Central Bank (ECB), it was not permanent. First of all, the decrease in Sentix investor confidence in the Eurozone to the lowest level of the last 29 months with minus 38.3 points increased the weight on the parity, while the fact that the nonfarm payrolls (NFP) data from the USA increased by 263 thousand people, above the market expectations, has increased the pressure on the parity by strengthening the possibility that the FED may raise interest rates by another 75 basis points in November. Technically, EURUSD parity, which makes a trend change in the descending channel, can continue the decline until the psychological 0.9600 support if it passes below the 0.9650 level permanently. In upward attempts that may occur, 0.9745 – 0.9795 may work as a resistance zone.
