Goldman Sachs cut its eurozone growth forecast for 2023 due to weaker data on economic activity. Economists led by Sven Jari Stehn now expect a growth rate of 0.4% for the region in 2023. That’s down from 0.7% previously.

EURUSD moved into another downward swing area between 1.1010 and 1.10267. The low for the day reached 1.1020 before turning back up. The midpoint of the $0.50 move up from the July low is at 1.10539. The 200 bar moving average on the 4 hour chart is at 1.10631. Stay under both, keep the seller more in control on the technical side.