The movement down the EURUSD is exhausted.
On Tuesday, an important ZEW indicator in Germany showed a very low level of current conditions (according to business estimates). On this negative, the euro came close to 1.1000 but failed to overcome this level down.
In my opinion, the downward movement meets more resistance – although the key low of 1.0880 is still quite far away.
There is still a shortage of strong news in the market. The Trump-China trade talks – a new wave of disagreements. Trump is threatening a new wave of tariff increases on goods from China if the talks fail.
EURUSD: we keep sales from 1.1070, however, we are ready to go to the purchase with a reversal from 1.1045.
