Analysis Market overview

EURUSD overview 14.12.2020

EURUSD rises on vaccine, Brexit and stimulus hopes.

EURUSD continues to rise on the continued risk-on mood amid the vaccine and stimulus-driven optimism. After London and Brussels agreed to “go the extra mile” to try to save a Brexit trade agreement this lifted the euro up against the weakening dollar. Dollar weakness can be attributed to the fact that the prospect of a vaccine-driven global economic recovery lessens the need for safe havens. Safe haven outflows from dollar also accelerated when it was reported that the $908 billion relief plan would be split in two to win approval and could be introduced as early as Monday – which is driving EURUSD up.

Expect buyers on downward corrections.

Next resistance to watch – 1.217796

Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.

Share this on: