The gloom in the European economy and the surprisingly positive ISM Manufacturing data in the United States paint a red way for the Euro. Technical indicators are mixed, FXStreet’s analyst Yohay Elam informs. Key quotes “The eurozone’s economic malaise of low growth and a struggling manufacturing sector is well known, and it looks worse amid the bounce in the US industry.” “The ISM Manufacturing Purchasing Managers’ Index hit 50.9 in January – a leap of over three points and returning to growth. ISM’s upbeat figures, which included a jump in the forward-looking New Orders component, gave a boost to the dollar.” “While stock markets are back to relative calm, the worrying news about coronavirus is underpinning the safe-haven US dollar” “EUR/USD has fallen back below the 100 Simple Moving Average on the four-hour chart after failing to reach the 200 SMA. However, it trades above the 50 SMA and enjoys upside momentum. All in all, the picture is mixed.” “Support awaits at 1.1035 whereas resistance is at 1.1065” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Upside renewed above the 55-day SMA – Commerzbank FX Street 2 years The gloom in the European economy and the surprisingly positive ISM Manufacturing data in the United States paint a red way for the Euro. Technical indicators are mixed, FXStreet’s analyst Yohay Elam informs. Key quotes “The eurozone's economic malaise of low growth and a struggling manufacturing sector is well known, and it looks worse amid the bounce in the US industry.” “The ISM Manufacturing Purchasing Managers' Index hit 50.9 in January – a leap of over three points and returning to growth. ISM's upbeat figures, which included a jump in the forward-looking New Orders component, gave a boost to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
