- Analytics
- News and Tools
- Market News
- EUR/USD: Major pivot at 1.0770 – TDS
EUR/USD: Major pivot at 1.0770 – TDS
EUR/USD: Major pivot at 1.0770 – TDS
FXStreet reports that economists at TD Securities note that an abysmal set of Eurozone PMIs has returned EUR weakness to the front burner.
“EU leaders meet to discuss plans to help countries hardest hit by the COVID-19 crisis. We look for little progress to be made.”
“The manufacturing PMI for the Eurozone overall fell from 44.5 to 33.6 in April (mkt 38.0), while services absolutely plunged from an already record-low level of 26.4 to only 11.7 in April (mkt 22.8). This raises the risk of another round of growth downgrades for the Eurozone.”
“Our focus in EUR/USD is the major pivot at 1.0770. A close below this would signal the return of a new, lower trading range in spot that could see a test of the March low at 1.0636.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
