The EUR/USD pair kick-started 2021 reaching a fresh multi-year high of 1.2349, as optimism continued to undermine the greenback. Although the dollar got to recover some ground ahead of the weekly close, the greenback retains its intrinsic long-term weakness, as its latest advance seems a mere correction, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Coronavirus immunization through different approved vaccines has seen a bumpy start in December, but it’s in progress. Optimism is being partially overshadowed by record cases in the US and some European countries, which resulted in more restrictive measures. In that sense, things didn’t change with the new year, and would likely remain the same over the next couple of months.” “It seems the EUR/USD pair is in a corrective decline that may continue in the nearest-term, although nothing is indicating an upcoming bearish case.” “A steeper decline may come if EUR/USD breaks below 1.2129, the low from December 21. The next relevant support is the 1.2000 figure, and the pair would need quite a catalyst to break below it. The first resistance is 1.2413, April 2018 high, followed by the 2018 high of 1.2554.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Sterling may get shots in the arm, Powell could pummel the dollar Yohay Elam 11 months The EUR/USD pair kick-started 2021 reaching a fresh multi-year high of 1.2349, as optimism continued to undermine the greenback. Although the dollar got to recover some ground ahead of the weekly close, the greenback retains its intrinsic long-term weakness, as its latest advance seems a mere correction, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Coronavirus immunization through different approved vaccines has seen a bumpy start in December, but it’s in progress. Optimism is being partially overshadowed by record cases in the US and some European countries, which resulted in more restrictive measures. In that sense, things didn’t change with… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
