EUR/CZK will fail to break down from a “Falling Widening Wedge”

The pair will fail to break down from a “Falling Widening Wedge” pattern resistance line. The European Union is due to publish major reports today, February 27. Among these reports were European Business Climate and European Consumer Confidence. The two (2) reports posted negative results on the previous month. These figures reflect the current economic status of the largest trading bloc in the world. In addition to the weak figures on the two (2) reports were the declining Eurozone M3 Money Supply report. Data shows that M3 (coins, notes, cash convertible assets, and short-term and long-term deposits) declined by 5.0%. Meanwhile, the bloc still has a sluggish inflation result. The weak M3 figures will drag the single currency in coming sessions. Meanwhile, the low tax burden for each household in Czech Republic is one (1) of the lowest in the European Union The highest was Germany at 38.3%.