Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation.
About      Faq       Contact     Shop

#forexbreakfast focus forex eng



Here were two main trends in the currency markets this week. The first was the strengthening of the euro against all other major currencies thanks to the agreement on the recovery fund and the publication of positive macro data. According to the generalized weakness of the dollar due to tensions with China and the epidemic situation out of control. The strength of the euro also had positive effects on the currencies of neighboring countries.

The euro/dollar exchange rate reached 1.17. The trend seems to reach extreme values, even if at present there isn’t a positive balance from the USA such as to stop the exchange rate movement.

The pound went higher against the dollar but weakened against the euro in the wake of the possible failure to agree on the Brexit. According to the Telegraph, the government is preparing for a failure to agree and for establishing commercial relations with the European Union based on WTO rules.

Positive week for the emerging currencies that have gained ground against the dollar, except the yuan that is suffering from diplomatic tensions between China and the United States.

The Brazilian real shone in the wake of the government’s proposal for tax reform.


Eur / USD

The agreement on the recovery plan pushed the exchange rate above the resistance level of 1.1630 reaching 1.17. Tensions between China and the United States penalize the dollar.

All oscillators tend towards overbought, which means a possible pause in the short term.

The events for this week should be monitored for a possible continuation of the trend towards 1.18 and subsequently towards 1.2.


Eur / GBP

The exchange rate reached 0.91 due to the wake of the approval of the recovery fund and the failure to agree on the Brexit. The oscillators both daily and weekly are overbought.

On the upside, the resistance to be monitored is set at 0.9149 while on the downside at 0.9.

Eur / Jpy

Last week the exchange rate exceeded 123.36 in the wake of the agreement on the recovery fund and despite the risk-off climate that usually favors safe-haven currencies.

All oscillators mark the overbought. A pause in the trend in the next few days is possible.

The resistance to be monitored is placed at 124.43. An overshoot could project the change towards 127

No Comments

Sorry, the comment form is closed at this time.