18.03.2020 EURTRY Analysis

18.03.2020 EURTRY Analysis On the first trading day of the week, the eurozone continued to flow weak economic data, while the central government budget had a deficit of 7.36 billion TL in February. On the second trading day of the week, weak domestic economic data continued to flow, while the Central Bank of the Republic of Turkey convened an emergency meeting and cut interest rates by 100 basis points and pulled the policy interest rate to 9.75 percent. In Germany, the ZEW Consumer Confidence Index rose to -49.5 in March, deepening its decline against expectations of -30. While the effects of the virus spreading in global markets increased during the day, it was observed that the Cross continued its downward movement with the developments that followed at the end of the day. Technically, the cross remains decisive at 7.05. 7.08, 7.12 and 7.15 levels are important resistance levels to follow in case the upward trend continues as long as 7.02 remains above the support level. With possible sales, support levels of 7.02, 6.99 and 6.96 can be followed in the downward trend of the exchange rate. [mstock id= " 1528"]