EUR/USD jumped against its American rival to a fresh multi-week high of 1.1030, boosted by the EU budget proposed by the European Commission. However, the pair is battling to run beyond 1.1000, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “EU Commission is proposing a 750 million euro recovery fund. Also, the next EU budget proposed by the European Commission will be worth €1.1 trillion and will include the coronavirus recovery fund.” “The short-term picture supports further advances, as, in the 4-hour chart, it has met buyers around its 20 SMA, which slowly gains upward traction. Furthermore, technical indicators turned firmly higher well into positive levels, maintaining its positive momentum near overbought levels.” “If EUR/USD losses the 1.0960 support, bulls will get discouraged and the pair would be at risk of a steeper decline.” 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 Cryptocurrency market Update: Coinbase acquires crypto broker Tagomi FX Street 3 years EUR/USD jumped against its American rival to a fresh multi-week high of 1.1030, boosted by the EU budget proposed by the European Commission. However, the pair is battling to run beyond 1.1000, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “EU Commission is proposing a 750 million euro recovery fund. Also, the next EU budget proposed by the European Commission will be worth €1.1 trillion and will include the coronavirus recovery fund.” “The short-term picture supports further advances, as, in the 4-hour chart, it has met buyers around its 20 SMA, which slowly gains upward traction. Furthermore, technical indicators turned… Regulated 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.
