The European currency shows the reduction comparing to the dollar in the beginning of the week. Weak PMI of Eurozone indicates that the industry is facing the threat of stagnation, or even worse, recession.
The four-hour EUR / USD chart shows that the upper boundary of the ascending channel has been tested, and the relative strength indicator shows the rebound from the resistance level – it signalize the correction reduction. Thus, within the EUR / USD forecast on April 5 correction is expected, the main objective is located in the lower border of the trading range.
