EURUSD Trades Soft As ECB Meeting Approaches

December 9, 2020

By Orbex

The euro currency continues to trade weaker as price action is posting modest gains on Tuesday.

This comes after the euro settled near new highs above 1.2150 late last week.

For the moment, the currency pair remains flat unless it can break down below the 1.2100 level of support.

This will potentially open the way for the euro to fall to the 1.200 level.


Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





However, support is likely to form near the 1.1900. We expect the euro to trade flat into Thursday’s ECB meeting.

By Orbex

InvestMacro

Share
Published by
InvestMacro

Recent Posts

How Wall Street is shifting electric utilities toward consolidation and profit

By Conor Harrison, University of South Carolina  A corporate merger that would form the largest…

2 hours ago

GBPUSD Awaits Bank of England Meeting Near April Lows

By RoboForex Analytical Department GBPUSD is attempting to stabilise near 1.3317 on Thursday morning. The…

3 hours ago

Markets disliked the results of the FOMC meeting. HKMA followed the Fed and kept its rate unchanged.

By JustMarkets The US stock market closed in negative territory, reacting to the results of…

3 hours ago

Energy costs are high and unaffordable – what utilities, governments, communities and you can do to help save consumers money

By Sanya Carley, University of Pennsylvania; Alexandra Klass, University of Michigan; Alison L. Knasin, University…

6 hours ago

Prediction markets are opening many new opportunities for unregulated insider trading and unethical bets – in the name of making a game out of politics

By Matt Motta, Boston University and Robert Ralston, University of Birmingham  Arrests for betting on…

23 hours ago

Soaring US beef prices likely to rise further thanks to trade tensions and disease outbreaks

By Andrew Muhammad, University of Tennessee and Charles Martinez It’s summer grilling season, but for…

1 day ago

This website uses cookies.