The important economic sentiment survey by ZEW fell from 14.1 to 7.6 points, worse than a fall to 11.7 points that was expected. This was met with a small drop from EUR/USD, that stops at the resistance line following this release. The related figure for the whole continent dropped from 31 to 19,7, also significantly worse than 29.8 that was predicted. The focus is usually on the German number, but both disappointment mount. EUR/USD now trades at 1.4440, halting under 1.4450. It’s important to note that the Euro didn’t react with a significant drop, at least not yet – but with a halt. This important German survey of 350 analysts and investors is considered as one of the best barometers for the mood in Europe’s largest economy and for the whole continent. In the last report, the people surveyed expressed concern that the rate hike may undermine growth in Europe. This probably was the reason for weakness now as well. The rate hike, and future hikes will probably curb inflation before it manages to lift its head. This is useful for successful, growing countries such as Germany. But for many other countries in the periphery of the continent, this move means that the attempts to recover will meet another barrier – another barrier that could leave them in recession for a long time. During the Asian session, EUR/USD weakened and dropped below 1.44, resting after the huge gains last week (following the rate hike). But towards the release, it made a big comeback and stopped only at the 1.4450 resistance line. Levels above are 1.4580, followed by 1.47. Below, we find 1.4282 and 1.4160. For more technical levels, analysis and upcoming events in this busy week, see the EUR/USD Forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Reasons to Not Quit Trading Yohay Elam 12 years The important economic sentiment survey by ZEW fell from 14.1 to 7.6 points, worse than a fall to 11.7 points that was expected. This was met with a small drop from EUR/USD, that stops at the resistance line following this release. The related figure for the whole continent dropped from 31 to 19,7, also significantly worse than 29.8 that was predicted. The focus is usually on the German number, but both disappointment mount. EUR/USD now trades at 1.4440, halting under 1.4450. It's important to note that the Euro didn't react with a significant drop, at least not yet - but… 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.