EURUSD may face a serious downturn if the German economy - Europe's largest economy - declines in season to season ratio. This ratio will come from the release of the German ZEW survey expectations, which is alarmingly low.
The euro area also faces uncertainty from brexit and Italian turbulence.
Out-of-the-euro economic data has been slower than economists' estimates.
Although it has improved in the past few months, the outlook for regional growth is uncertain due to uncertainty over the US-China trade war.
In this situation, the German export sector is not well supported by the global downturn.