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  • EURUSD Looks Ready to Break Higher

    From dailypriceaction.com

    On December 8th, I mentioned how EURUSD was flagging below 1.2150. That’s another way of saying a bull flag was developing. Since reaching the 1.2150 resistance area last week, the EURUSD has pulled back. We weren’t surprised by that as 1.2150 has been in every weekly forex forecast video for the last few weeks. Despite reaching a key resistance area, the EURUSD price action has remained constructive. The uptrend is alive and well, and the euro is holding above the 1.20 region where it broke out on December 1st. This upward movement is something I’ve been writing about since July. Earlier this week, I told ... (full story)

Lagarde will not allow that...
Quoting NotAtrader
Lagarde will not allow that...
Agreed but what short of intervention can she do?
Lagarde, she doesn't know the risks of the market.
Not
Quoting RossEdwards
{quote} Agreed but what short of intervention can she do?
I really don’t know, but she says she’ll watch the FX rates very closely. The sentiment all over the FOREXT market is positive for EUR and this this is exactly what she keeps watching. In this bad economy times no one wants a strong currency.
Just my opinion.
Quoting NotAtrader
{quote} I really don’t know, but she says she’ll watch the FX rates very closely. The sentiment all over the FOREXT market is positive for EUR and this this is exactly what she keeps watching. In this bad economy times no one wants a strong currency. Just my opinion.
Correct, remember they get paid with dollars.
Quoting Z3C
{quote} Correct, remember they get paid with dollars.
So they might possibly want to influence a weaker EUR and stronger USD I guess.
Quoting Z3C
{quote} Correct, remember they get paid with dollars.
Who gets paid with dollars?
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  • Story Stats
  • Posted: Dec 10, 2020 10:28am
  • Submitted by:
     dailypa
    Category: Technical Analysis
    Comments: 8  /  Views: 2,335