DOES EURO WILL CONTINUE THE DOWN PREASURE?

Hi everybody this week is nearly to end.The euro currency continued his downtrend amplified by the importants economic indicators who seems to back up Euro area in recenssion again( will see if euro area has returned back into recession.Industrial production in euro area decreased by 1,1 % in may 2014 compared with  april 2014,but compared with may 2013 increased with 0,5

The ZEW of Economic Sentiment of Germany also decreased in july 2014 by2,7 points and now stands at 27,1 points which is much below economists forecasts at 28,9 for july.The Euro area inflation is at 0,5 % much below ECB targets.Uncomfortable level for ECB's officials which it seems they are ready to add new measures to combat low inflation.

Euro area reported a trade surplus in goods 15,4 billion euro in may 2014,compared with may 2013 which was 14,6 billion.In may 2014 seasonally adjusted exports rose by 0,6% and imports rose by 0,5 % compared with aprile 2013.

The current account also reported a surplus of 19,5 billion in may 2014.At the end of firs quarter of 2014 the net liabilities recorded at 1,2 trillion aproximately of 12% GDP of Euro area.The level of liabilities increased with 24 billion compared with the end of 2013.

                                                        Technical analysis

The euro currency reached at the end of last week at 1,3523 important level we could to say.Is important to see if the euro will continue his down.If the price find support at 1,35 we can enter  with buy orders.On h4 chart the price  has maked a bullish hide divergente(MACD indicator show this) with potential target profit 1,3590 up to line resistance.

For those who bearish views we can enter with short orders when the price through from 1,35 with confirmation.More important is to see if the price will broke weekly support area an important level which could make us an important view over the evolution of euro fore the next period.

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