ANALYSIS
NQ100 Finds Support from PPIApr 14
The Uptrend Continues in EURGBP
The promising high-frequency data on the economy of the European Region creates demand for the euro. On the other hand, strikes in the UK pose a strong downside risk to the economic outlook, making it difficult for the pound to recover. From this point of view, we observe an upward momentum in the parity. 0.8885, which is indicated by the Fibonacci 61.8 percent expansion line, is in the main resistance position. Once this is exceeded, the move in favor of the euro may continue to 0.8915, then to 0.8950. Below, the 0.8825 – 0.8795 line is the power harvesting zone.
