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October, 23 - markets are preparing for a very important day for euro

 

Tomorrow is a very important day for euro. But it seems that traders have already started to prepare for what is coming. And what is coming is a real slew of report and discussions on the future monetary policies of Eurozone.

 

eurusd 23.10.2019

 

A set of economic data from Germany and France, refinancing rate, monetary policy statement, Central Bank press conference – that is too much to take in in one day, and this would explain why euro is performing so badly against the greenback today. Even though we still have a whole day of trading ahead of us, it is only natural that we should think about what is coming and start preparing ourselves for the turbulence. Especially given the fact that for the last years German and French economic data did not have such a good influence on EUR/USD trading. In fact, we are fearing what is coming as Germany clearly not doing so well right now.

 

Also, the fall of euro can be attributed to growth of the greenback that is so clear right now, that we have no doubts that euro is not the only currency that suffers from it.

 

Today and tomorrow are clearly not going to be easy for euro traders. That is why we need to use trading signals for the couple.

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