Euro-dollar couple had us worried today since the market opened. And not that half of the reports are behind us for the day, we can finally assess the damage done to the couple and to our trading as well. First of all, I have to say that today is the day when traders are prone to panicking. And it is not surprising – we knew what was coming and every wrong word and number was threatening to tip us over the edge. But, when we finally saw that the repots presented to us are not that good, nothing could have saved EUR/USD chart from plunging.

In German reports we saw that the manufacturing of the country began to stabilize, although we are far away from the growth we saw earlier. The most damage was done when ECB head Lagarde called for the fiscal easing, which means that financial policies of EU might soon be altered. Which is, of course never a good sign, if you ask me. Plus, easing means that the interest rates might be lowered. And lowered interest rates are going to call for another selloff.

The fact that service sector of Germany didn’t show the necessary for euro stability growth is also one of the major reason for a very rapid and swift EUR/USD decline.

All in all, the future doesn’t look too bright for euro and for EUR/USD couple. Especially now, when the effect from the information we got is fresh.

In case you missed the decline of EUR/USD, use our trading signals right now in order to know every tick of the couple.