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EURUSD Trades Soft As ECB Meeting Approaches

Posted On 09 Dec 2020
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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.

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

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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