Euro trimmed part of its daily losses but has room to extend its slide EUR EURUSD $EUR $EURUSD
Russia staged a massive attack on Ukraine, invading the country. Multiple casualties have been reported as Moscow attempts to take over Kyiv. The rest of the world condemned the invasion and triggered various sanctions on Russia, but the crisis continues and it does not seem President Vladimir Putin will back up on its decision to take control of the European country., accelerating its advance after Wall Street opened with substantial losses.
Market players are ignored macroeconomic figures, although US data surely help the greenback. The Q4 Gross Domestic Product was upwardly revised to 7% QoQ as expected, while InitialOn Friday, Germany will publish the second estimate of Q4 Gross Domestic Product, foreseen unchanged at -0.7% QoQ. The EU will release the February Economic Sentiment Indicator, while the US will release January Durable Goods Orders and the core PCE Price Index for the same month.remains below the 1.
In the 4-hour chart, technical indicators have started correcting extreme oversold readings but are short of suggesting that the pair has reached a bottom, as they lack bullish strength. At the same time, the 20 SMA has turned south below the longer ones, all of them far above the current level. The pair has room to test the critical 1.1000 threshold on renewed selling pressure below the 1.1100 figure.
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