ANALYSIS
NQ100 Finds Support from PPIApr 14
The Losses May Deepen in EURUSD
The fact that the Members of the Board of Directors of the European Central Bank (ECB) maintained their hawkish stance against the peak inflation rates supported the parity somewhat. However, recession risks in the Eurozone remain alive. As reported by IHS Markit and S&P Global on the last trading day of the last week, the fact that the composite PMI data in the Eurozone fell to 48.2 points in September reveals that the risks of recession and stagnation in economic activity in the region have revived. With the effects of this, we see that the losses on the euro deepen. In addition, the strong stance of the dollar has a negative effect on the EURUSD parity. Technically speaking, the 0.9620 level will be followed closely in the parity, which has performed the descending channel change. In the transition below here, the descents can continue up to 0.9570 level. In upside attempts that may occur, 0.9715 and 0.9760 resistances can be followed.
