EUR/USD hit one-week lows of lows of 1.1160 and was last at 1.1196, down 1.04% for the day. The euro extended early losses against the other major currencies on Tuesday, turning sharply lower after the European Central Bank said it speed up the pace of its stimulus program, while a report showing deteriorating German economic sentiment also weighed. The drop in the single currency came after senior ECB policymaker Benito Coeure said the bank is planning to speed up the pace of its bond-buying stimulus program before the summer in order to avoid the “notably lower market liquidity” in late July and August. The euro remained under pressure after data showed that German investor confidence fell more than expected this month, following a slowdown in growth in the euro area’s largest economy at the start of the year.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5540 TARGET 1.5560 1.5590 SL 1.5510
SELL GBP/USD BELOW 1.5490 TARGET 1.5470 1.5440 SL 1.5520
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