EUR/USD (a 4-hour chart)
The trading week ended on a minor note. Euro was unable to keep its maximums and fell to new minimums. The reason of the fall is uncertain future of the economy and weak macroeconomic data from Europe.
For example, the level of industrial production in Germany in January disappointed even the most ardent optimists. Contrary to the expected growth, the level of production is unchanged from last month, when it showed a rise of 0.3% m/m.
Negative news from Germany really makes us worry as we know that Europe is hold on Germany economy. France seems to be far behind. Despite the budget deficit France has problems with high level which is in the 4th quarter of last year reached the highest level since 1999, rising to the level of 10.6%.
The Confidence in the French government is collapsing and the country is near bankrupt.