Get today's long and short trade ideas for the EURUSD pair here: FXsignals forexsignals $EURUSD forextrading
Enter your emailThere is a likelihood that the pair will continue falling as bears target the next key support level at 1.1260.Timeline: 1-2 days.pair continued the downward trend that started on Friday as investors watched the rising risks of a Russian invasion of Ukraine.AdvertisementTensions about Ukraine continued during the weekend as Western countries warned that Russia was about to invade the country.
Second, it is bearish since the US dollar is usually a safe-haven currency that does well when global tensions rise. Another important data to watch will be the latest producer price index data from Germany. The data is expected to show that the headline PPI rose to 1.5% on a month-on-month basis and by 24.2% on YoY basis.
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