EUR/USD has retraced 50 percent of the rally from 1.1176 to 1.1448 and could drop further on recession fears. German 10-year bond yield has fallen below zero for the first time since 2016. A section of the US yield curve has inverted for the first time since 2007, bolstering recession fears. The EUR may also feel the heat of Brexit uncertainty. EUR/USD closed well below 1.1312 (50% Fib R of 1.1176/1.1448) on Friday, confirming a bearish inside day reversal and was last seen trading at 1.13. The shared currency may fall further toward 1.1234 on recession fears and Brexit uncertainty. A widely followed section of the US treasury yield curve – the spread between the 10-year and three-month bond yields – turned negative on Friday, triggering recession fears. Further, the German 10-year bond yield turned negative for the first time since 2016, sending the US-DE 10-year yield spread higher by almost seven basis points. As of writing, the futures on the S&P 500 are down 0.45 percent and major Asian indices are flashing red, meaning the risk-off mood is intact. The EUR, therefore, could extend Friday’s decline, more so, due to Brexit uncertainty. Britain’s new departure date of May 22 will apply if parliament approves Prime Minister Theresa May’s deal, which has already faced two major defeats. The plan will be put to vote for the third time this week. If it fails, Britain will have until April 12 to offer a new plan or decide to leave the EU without a treaty, according to Reuters. The reports are doing the rounds that the odds of a no-deal Brexit are rising. Technical Levels 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 USD/JPY Technical Analysis: Corrective bounce above 110.0 likely, but could be short-lived FX Street 4 years EUR/USD has retraced 50 percent of the rally from 1.1176 to 1.1448 and could drop further on recession fears. German 10-year bond yield has fallen below zero for the first time since 2016. A section of the US yield curve has inverted for the first time since 2007, bolstering recession fears. The EUR may also feel the heat of Brexit uncertainty. EUR/USD closed well below 1.1312 (50% Fib R of 1.1176/1.1448) on Friday, confirming a bearish inside day reversal and was last seen trading at 1.13. The shared currency may fall further toward 1.1234 on recession… 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.