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In anticipation of the next meeting of the European Central Bank (ECB), which will be held this Thursday, the euro will remain under pressure.
Concerns about the slowdown in the global economy, expectations of the dovish sentiment of the ECB, as well as high demand for safe-haven assets, allowed the "bears" on EUR/USD to continue the attack.
For the second time in three months, the International Monetary Fund (IMF) has worsened the forecast for global GDP growth over the next two years.
In particular, the assessment of the dynamics of Germany's GDP for 2019 was reduced from 1.9% to 1.3% and Italy from 1% to 0.6%. At the same time, the forecast for the US economy remained unchanged, which, apparently, played into the hands of the greenback.
Meanwhile, the EUR/USD bulls are waiting for another test this week. On January 24, the ECB will hold its first meeting this year.
The main intrigue is how "dovish" will be the statements of its chairman, Mario Draghi, at a press conference on Thursday. This time, the ECB will most likely keep its key interest rate at the same level, whether the Finnish Institute refuses to raise the rate in 2019 or even announce the pumping of the banking system with liquidity is not yet clear.
If the comments of the ECB management on the results of the next meeting will have cautious optimism, sales of the euro in anticipation of an important event may turn into purchases based on facts.
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