The euro currency gained 0.13% on the day despite a panel of economists lowering Germany’s growth forecasts. Expectations are for Germany’s growth to rise 0.8% for 2019, compared to 1.5% forecast previously. Experts cited Brexit and trade disputes as the main risks. However, the German ZEW Economic sentiment index released yesterday showed that optimism was back. This came as the index rose to the highest level of -3.3 this year after falling to -13.4 last month.
Will EURUSD Continue Its Winning Streak?
The common currency has managed to post gains for the past three sessions. However, momentum is easing as the currency pair is likely to fall back to 1.1329 to establish support once again. As long as it does not breach this level, EURUSD could attempt to break out higher once again. The main resistance at 1.1390 – 1.1400 could be reached in the near term.
