I'm close to giving up any calls for upside in EURUSD. Seems like whatever happens, EURUSD just sells off - DXY down, EURUSD flat. DXY up - EURUSD dumps, GBPUSD is unchanged. Very weak currency! Good news, bad news - doesn't matter.
Joined Feb 2014
Status: trading bank levels
I guess that the market didn't look at the stand-alone ZEW print today, but more like at the overall series, which is negative readings for a while now.
Maybe this spooks the market, since it increases probability of recession in the euro zone.
Thoughts, ideas on that? Possible trigger of a new down-leg in EURUSD?
Both EU and German ZEW is in downtrend. see attached.