The pair rose sharply on Monday morning amid the short-term truce in the EU–UK talks after this weekend’s meeting. It may continue to grow locally as the Fed is expected to decide on the new fiscal stimulus which will weaken the US dollar.
Technical side:
The price is above …
Analysis based on round-number levels, price channels and modified Elliot Waves
The overall trend is downward. A start fractal has formed below the 135 (EMA) moving average. Breaking through the start fractal will result in the formation of a 1-2-3 descending pattern. Awesome Oscillator shows a bearish divergence.
Friday, December 11th, today’s news—EU leaders approve a new stimulus package after Poland and Hungary lift their veto. European markets are down as the prospect of no-deal Brexit looms, the US markets are mixed with no progress in the fiscal stimulus talks, gold rises, vaccine optimism drives up the stocks …
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