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EUR troubles again under the spotlight as German PMI data miss estimations

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Very similar to the ECB report, which showed signs of doubt about economic growth this week, data from Germany generally highlighted how fragile the euro was. While productivity has improved between March and April, they are still a disappointment with what the markets expected.

EUR / USD plunged as a result of this to 1.1253. Even more significant here is that it is obvious that the pair will confirm the breakthrough of the period of 200 - retention of the levels will tilt the scales in the direction of the sellers.

Despite the overall improvement in PMI data, the manufacturing sector remains weak (a series of 4 months), which is absolutely sufficient to offset the hopes of the bulls, given that the country's economy is heavily oriented towards production.

For EUR / USD, vendors are again in short-term control, and this does not bode well for those who are counting on the positive end of the week from this currency pair. The next support is now around 1.1250, after which the road is free to 1.1215-20.


 Trader Aleksandar Kumanov

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