ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD:The Pair Is Losing Value Due to Recession Concerns
After Gazprom stopped another turbine for gas flow in the Nord Stream 1 pipeline, gas prices in Europe for September delivery rose to 194.50 euro/MWh, contributing to the recession concerns regarding the European economy. In the critical FED week, while the dollar showed a strong outlook, the sales to the euro due to recession concerns brought the parity down. From this point of view, if the pair, which ended the wedge formation, can sag below the critical 1.0100 support, it can continue its losses behind 1.0055 until 1.0015. In possible upside attempts, the 1.0190 – 1.0245 range will work as a strong resistance zone.
