How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
EUR supported by the European Commission
The economic situation in the Eurozone is as bad as the ECB’s worst forecasts as reported by the bank’s president Christine Lagarde today. Nevertheless, the EUR is willing to overlook this news and pay more attention to the stimulus extension plans as the European Commission informs. The currency took that as a strong sign that hopes for a better recovery may be fulfilled and rallied against the USD and the GBP. That, however, may be just a temporary rise which will change no larger trend unless there is more fundamentally positive input. Watch for the resistance levels to be crossed or reverse the upswing and adjust your positions accordingly.
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Latest news
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This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
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