Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR: strategic rise?
Information is not investment advice
EUR has been notably aggressive lately. Against the USD, it broke through the key resistance of 1.19 that has been keeping it in check since July, went through 1.20, and established itself above 1.21.
Against the GBP, after three months of sliding downwards from above 0.92 to below 0.89, it went up to trade above 0.90. These are tactical achievements of the euro no one would deny, but is it a local out-of-the-order event that will later on fall back into established trends, or, it is a beginning of a new phase?
ECB may have a response for that. More specifically, it will probably provide one this week as the EU country leaders are set to meet during the summit, and the ECB is about to announce its monetary policy plans. The historic 1.8trln-euro rescue package is prepared to get the damaged European economy, especially in it southern country members, out of the trouble. Once and if the resistance of Hungary and Poland is set aside, there will be no impediment for this unprecedented rescue to be put to action. With the other quantitative measures the ECB has taken a course on, the EUR should have a pretty solid promise for the upside performance.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.