EUR/USD attempts recovery as the USD bulls turn cautious. Stimulus hopes-driven risk-on mood weighs on the greenback. Next of note remains the German ZEW, Yellen’s hearings. EUR/USD trades close to 1.2100, holding onto the recovery mode ahead of the European open. The recovery in the risk sentiment amid expectations of additional fiscal stimulus is weighing on the safe-haven US dollar. US President-elect Joe Biden is set to take Office on January 20, pushing for the $1.9 trillion stimulus package already outlined last week. Meanwhile, the Treasury Secretary nominee Janet Yellen is likely to urge the government to “act big” with its next coronavirus relief package when she testifies before the Senate later on Tuesday. Additionally, Eurozone finance ministers renewed push for fiscal support for their economies, in order to boost the post-pandemic recovery plans, also renders supportive for the riskier assets. Looking ahead, the major will remain at the mercy of the US dollar dynamics and risk trends ahead of Yellen’s testimony. In the meantime, the German ZEW survey could keep the EUR traders somewhat busy. EUR/USD technical levels “Any further upside past-1.2100 needs to cross the falling wedge’s resistance line, at 1.2116 now, to recall the EUR/USD buyers eyeing to refresh the multi-month high above 1.2349. On the contrary, the quote’s U-turn from present levels will have strong support around 1.2045/40 area including the pattern’s lower line and December 02 trough,” FXStreet’s Analyst Anil Panchal notes. EUR/USD additional levels 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: US dollar weakness, Brexit chatters favor bulls around 1.3600 FX Street 2 years EUR/USD attempts recovery as the USD bulls turn cautious. Stimulus hopes-driven risk-on mood weighs on the greenback. Next of note remains the German ZEW, Yellen’s hearings. EUR/USD trades close to 1.2100, holding onto the recovery mode ahead of the European open. The recovery in the risk sentiment amid expectations of additional fiscal stimulus is weighing on the safe-haven US dollar. US President-elect Joe Biden is set to take Office on January 20, pushing for the $1.9 trillion stimulus package already outlined last week. Meanwhile, the Treasury Secretary nominee Janet Yellen is likely to urge the government to "act big" with… 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.
