#forexbreakfast focus forex (eng)
The depreciation of the greenback continued in the past week. The central theme was the negotiations for a new tax plan. And according to rumors, the parties are close to an agreement for a $ 908 billion plan. The Eur / Usd exchange rate reached 1.2150. The recovery of oil currencies continues, which benefited from the rise in Brent. On the Brexit front, no new news. Negotiations continue tightly to find a solution by the EU council on 10-11 December. On the subject of fishing, there would be an opening from France and Germany. Meanwhile, the pound continues to weaken. The Eur / Gbp exchange rate returned above 0.91. In the emerging sector, currencies appreciated mainly against the dollar. While towards the Euro the performances were mixed. Attention, on the other hand, on the Polish Zloty and the Hungarian Forint, pending new developments on the veto placed on the recovery plan.
Eur / Usd
Last week, in the wake of the weakness of the dollar, the Eur / Usd exchange rate broke the resistance at 1.2080. However, the indicators point to an overbought situation. That could mean a pause in the short term for the bullish movement. On the downside, the levels to monitor are placed at 1.2066 – 1.2080 followed by that at 1.1837.
Eur / Gbp
In the wake of the Brexit talks, the Eur / Gbp broke the resistance at 0.90 last week, while this morning it moved above the 0.91 level. Static resistance is present at 0.9162. Its break could project the exchange towards the 0.9292 level. On the downside, however, to be monitored is always 0.90, followed by 0.8873.
Eur / Jpy
Last week the Eur / Jpy exchange rate moved above 126.
The daily oscillator signals a strong overbought, that could mark a pause in the bullish movement. The medium-term oscillator, on the other hand, is in the neutrality phase. The supports to monitor remains at 125.77, followed by 123.02. On the upside, resistance remains at 127.08 (2020 high) and 129.38.