EUR/USD: The bearish trend is confirmed again after the alarming data

© Reuters. The Euro continues to fall on the forex

Despite an attempt to rebound in the early afternoon, the evolution of the pair EUR/USD this Thursday, confirms the downward trend in progress since the world summit on January 31st at 1.1514.

The Euro-Dollar has in fact marked a low of 1.1324 today, signing a fall of almost 200 pips in about a week.

Among the latest news justifying the drop of the EUR/USD, it should be noted that the words of Jerome Powell, the head of the Fed, have supported the Dollar yesterday, it has been estimated that the US economy is ” in a good position “.

This morning, the disappointing figures for German industrial output also weighed on the Euro, even as the words dovish tone of the ECB in its monthly bulletin, and that the lowering of the growth forecasts of the European Commission.

This afternoon, the only statistic potentially influential concerned the inscriptions weekly unemployment US, which are proven to exceed expectations at 234k against 221k expected, which was not enough to weaken the greenback.

From a technical point of view, the break under the support of 1.1350 this morning, which was confirmed by the fact that the attempt of a rebound in recent has been blocked by this threshold, is a new bearish signal.

The lows of the day (1.1325) is to be regarded as a support the potential, prior to the psychological threshold of 1.13. The increase, 1.1350, 1.1380 and 1.14 are the first resistances to be monitored.

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