German ZEW Economic Sentiment (Apr) declines to 53.3,EURUSD consolidates below 1.0706 !!!

EURO forex hujgob 1
EURO forex hujgob 1

The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts.

The German indicator has declined to 53.3 below expectations 55.3 and below last read 54.8 . This development is likely to keep the EURO under pressure , a consolidation around /below 1.0706 levels is likely , before the next fall , next support comes at the 1.0618 levels…strategy : sell  at rebound cautiously!!!