16.03.2020 EURTRY Analysis

16.03.2020 EURTRY Analysis On the fourth trading day of the week, while weak economic data flow continued in the country, it was observed that Euro Area industrial production data dropped 2.3 percent before the coronavirus. On the last trading day of the week, industrial production dropped by 0.2 percent on a monthly basis in January and rose by 7.9 percent annually. Retail sales data increased by 9.6 percent year-on-year in January. Weak data flow in the Euro Zone continued, while the EU-leading pioneer CPI in Germany rose by 0.6 percent on a monthly basis and 1.7 percent on an annual basis in February. During the day, Health Minister Fahrettin Koca announced that the number of cases in Turkey rose to 18, while in Germany, Chancellor Merkel's government stressed that German companies and their employees would use all the tools at their disposal to combat the deepening economic effects of coronavirus. With the developments that followed at the end of the day, it was observed that the Cross continued its limited downward movement. 16.03.2020 EURTRY Analysis Technically, it was observed that the cross continued to be decisive at the 7.02 level. If the downward trend continues as long as it remains below the 7.05 resistance level, the 6.99, 6.95 and 6.92 levels are important support levels to follow. For possible purchases and the upward trend in the exchange rate, 7.05, 7.08 and 7.12 resistance levels can be followed. [mstock id = "1528"]