Trading is taking place with a slight decline against the European currency USD During the Asian session, 1.0900 is being tested for a breakdown and local lows are being updated from 9 March. Market sentiment is mainly related to the “recession” trend EUR / USD Since last weekend.
Investors are assessing the possibility of further acceleration Inflation The European Union (EU) is considering launching another package of sanctions against the Russian economy after evidence of war crimes in the Ukrainian city of Bucha. The new sanctions are expected to affect coal imports for 4 billion euros per year, as well as equipment for the gas industry, transportation and other industries for 10 billion euros per year. Sanctions will also affect investment restrictions, in particular; New measures are planned against financial institutions and state-owned enterprises, as well as a number of representatives of the Russian authorities and their families. The European Union will stop buying fertilizer, timber and several food products from Russia, which in current reality is estimated at about 5 5.5 billion a year. Russian imports Oil As well as Natural gas , Will remain virtually unchanged, as it is a fundamental issue for energy security for many EU countries. In particular, Germany and Hungary oppose full sanctions. At the moment, the EU buys about 40% and about 60% of all gas Oil And Oil Products from Russia.
The macroeconomic data from Europe, released on Tuesday, showed moderate optimism, but was not significant. Effect In the market. The composite manufacturing PMI in the eurozone rose to 54.9 points from 54.5 in March, with a neutral forecast. The service PMI for the same period rose to 54.8 from 55.8 points, while analysts did not expect any change here either.
Support and resistance
Bollinger Bands D1 shows a moderate decline in the chart. The price range is expanding, but at the moment it is not keeping pace with the wave of “bearish” sentiment. MACD Saving a stable sell signal going down (located below the signal line). Stochastic Holds stable downtrend but is close to zero level, which indicates additional selling risk Euro In the very short term.
Resistance levels: 1.0957, 1.1000, 1.1051, 1.1100.
Support levels: 1.0900, 1.0860, 1.0800, 1.0767.
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