Goldman Sachs has reduced its 2023 growth forecast for the euro zone due to weaker economic activity data. Economists, under the leadership of Sven Jari Stehn, now anticipate a growth rate of 0.4% for the region in 2023. That is down from 0.7% previously.
The EURUSD moved into the next downside swing area between 1.1010 and 1.10267. The low price for the day reached 1.1020 before rotating back to the upside. The $0.50 midpoint of the move up from the July low comes in at 1.10539. The 200 bar moving average of the 4 hour chart comes in at 1.10631. Stay below both keep the sellers more in control technically.
EURUSD bounces off support target area
This article was originally published by Forexlive.com. Read the original article here.