This week, GDP announcements in the second quarter are being made one after another. It was announced today that the euro area preliminary figures were -12.1% YoY. Replacing this with the year-on-year rate gives -40.3%. The US figures released yesterday were a year-on-year rate of -32.9%. A simple comparison shows that the euro area has shown a more severe decline than the United States.
Consider selling EURUSD.
From the technical point of view that it is overbought + the situation of the EU is bad, we are going to sell it.
However, I plan to settle it by the end of today.
