Euro Weaker Based on Deutsche Bank Worries?

Deutsche Bank is also making news regarding its leadership and lack of profitability.

Euro’s Sudden Weakness Testing Support

The Euro has been under pressure since the middle of last week after touching important resistance. The European currency is below the 1.23 level against the U.S Dollar and is suddenly near important mid-term lows.

EUR/USD 4H Chart

While support looks to be around 1.2175 for the Euro, resistance appears solid near 1.2450. Some traders may interpret the current range of the Euro as an after effect of a long holiday weekend, but there may be more to the story.

Deutsche Bank Problems & Suspicious Behavior for Euro

A significant amount of news and drama regarding Deutsche Bank, which is one of Europe’s biggest corporate financial institutions is raising alarms. There are questions surrounding the German bank’s leadership and lack of profitability.

EUR/USD Daily Chart

Suspicious investors may be positioning themselves for further bad news to develop surrounding the Deutsche Bank story, which would certainly impact the Euro. Traders should be very careful with the European currency in the days to come.

In the short term, we believe Euro could be negative. The mid-term and Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

This article was originally posted on FX Empire

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