EUR/USD fell to 1.2129 this Monday amid a risk-off mood spurred by UK news but the pair is recovering the ground lost. According to FXStreet’s Chief Analyst Valeria Bednarik, euro/dollar needs to surpass the 1.2225 level to see further gains. Key quotes “Investors rushed into the greenback after the UK announced a much more contagious coronavirus strain and announced tougher restrictions in the country. Additionally, the lack of Brexit progress fueled the pound’s sell-off, favoring the greenback’s rally.” “US Senators agreed on a historic $900 billion coronavirus relief package and will vote on a proposed bill this Monday, alongside government funding for a whole year. The news fell short of offsetting the ruling panic, although demand for the greenback eased and majors are bouncing from intraday lows.” “The short-term picture suggests that the EUR/USD pair is not yet out of the woods, as it continues to develop below a now flat 20 SMA. Buying interest, however, surged near a bullish 100 SMA. The mentioned 20 SMA provides dynamic resistance around 1.2225, with potential gains limited as long as the price remains below it.” 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 WTI trades deep in the negative territory near $47 FX Street 2 years EUR/USD fell to 1.2129 this Monday amid a risk-off mood spurred by UK news but the pair is recovering the ground lost. According to FXStreet’s Chief Analyst Valeria Bednarik, euro/dollar needs to surpass the 1.2225 level to see further gains. Key quotes “Investors rushed into the greenback after the UK announced a much more contagious coronavirus strain and announced tougher restrictions in the country. Additionally, the lack of Brexit progress fueled the pound’s sell-off, favoring the greenback’s rally.” “US Senators agreed on a historic $900 billion coronavirus relief package and will vote on a proposed bill this Monday, alongside government… 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.
