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Day: July 21, 2020
July 212020
Euro Mixed As EU Reaches Breakthrough in Recovery Fund
The euro is trading relatively subdued against many of its G10 currency rivals on Tuesday, despite the European Union (EU) reaching a breakthrough agreement over a new $2 trillion fiscal stimulus and relief plan. Following marathon sessions of 27 EU governments, officials were finally able to compromise on this monumental and unprecedented spending package that is aimed at resuscitating the eurozone economy. Will it be enough to stimulate the eurozone […]
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July 212020
First Stop for the Bulls at 1.2777 on GBP/USD?
The Great Britain pound versus the US dollar managed to confirm 1.2514 as support and start a departure from it. Is 1.2777 a possible turning point? Long-term perspective The rally that started from the 1.1409 low — even if hampered by the firm 1.2514 area — managed to continue, taking the shape of an ascending trend, as highlighted in the chart. The fact that the bulls managed to overcome the 1.2514 resistance twice — firstly after the appreciation that confirmed the 1.2092 […]
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