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forex technical analysis

The European Commission released its winter forecast.

The report was slightly optimistic, pointing to a path of steady but moderate growth. The growth projections were unchanged.

The economy is forecast to grow at a rate of 1.2% both this year and in 2021 as well. Inflation forecasts were raised from 1.2% to 1.3% for this year.

Germany Inflation Falls 0.6% in January

The final inflation figures for Germany for January saw consumer prices falling. The decline was that of 0.6% during the month and was in line with the flash estimates.

Despite the decline, on a yearly basis, inflation hit a six-month high as CPI rose 1.7% on the year.

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EURUSD Loses Support, Declines Further

The common currency failed to hold on the support area near 1.0897 and fell to a fresh yearly low. Price action remains biased to the downside amid the fundamentals also supporting this view.

The declines also mark a new low since mid-2017...

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