Euro slip below 1.12 on weak Italy’s economic growth and strong dollar

Euro met the target and below heading to final tgt 1.1020

Technical Overview:  Euro currently trading at 1.1155 made a low at 1.1143 and high at 1.1159 in Asian session as of writing. Technically trading below 1.1170 key support now turned to resistance, sustain below this  can see till next support level at 1120 and 1.1085 further. As shown in the figure, 4hr chart showing a pattern again which giving us some price action for the day, as per pattern this broken the falling wedge at 1.1240 and extended the fall as expected ,a  break and hold there can extend the fall till 1.1120 and 1.1020 as per bearish flag breakout calculation. Overall sell on rise is advised for the day.

Fundamental: EURUSD depreciated by 0.65 percent yesterday. The shared currency was also hurt by comments from EU Centeno, who said that Italy’s weak economic growth is worrisome for the area’s finance ministers. Overall, data convinced market players on the health imbalance in European economies, also highlighting divergent paths from central banks, as the ECB is back to adding stimulus. German business climate came in at 99.2 against market expectations of 99.2 for Mar’19

Suggestion:  SELL EURUSD TILL 1.1170 FOR 1.1120/1100 ELSE BUY ABOVE 1.1220 FOR 1.1280/1300

Important levels to watch:

Support Levels

S1: 1.1155 S2: 1.1120 S3: 1.1080

Resistance Levels

R1: 1.1175 R2: 1.1205 R3: 1.1255

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