Euro / U.S. DollarShort
EUR/USD fundamentals gather to push for a break below 1.2150
As was mentioned before in previous posts this week there were many reasons to reverse the attempt to break above 1.2260 and alert to a reversal
MORE fundamentals why the price shall break below 1.2150?
1- The variant first identified in India is spreading all over parts in England, the fact the puts EU at risk ( Brexit business between EU-England )
2- ECB speech " fiscal support to economy shouldn't be unwound prematurely, the pandemic shouldn't be used as a pretext to throw fiscal rules over board "
3- Upbeat U.S. data ( initial jobless claims, core durable goods order ) DESPITE THE MODEST DROP IN GDP REVISE AND PENDING HOME SALES , all in all indicates economic growth
4- Drop in Germany data ( GFK German consumer climate )
Last but not least the upbeat U.S. data raises the prospects that FED is reaching employment goal and may confirm the previous taper talks ( Usually leads to being Hawkish )
Friday's data won't have that impact to change direction unless a SIGNIFICANT DROP IS SEEN
MORE fundamentals why the price shall break below 1.2150?
1- The variant first identified in India is spreading all over parts in England, the fact the puts EU at risk ( Brexit business between EU-England )
2- ECB speech " fiscal support to economy shouldn't be unwound prematurely, the pandemic shouldn't be used as a pretext to throw fiscal rules over board "
3- Upbeat U.S. data ( initial jobless claims, core durable goods order ) DESPITE THE MODEST DROP IN GDP REVISE AND PENDING HOME SALES , all in all indicates economic growth
4- Drop in Germany data ( GFK German consumer climate )
Last but not least the upbeat U.S. data raises the prospects that FED is reaching employment goal and may confirm the previous taper talks ( Usually leads to being Hawkish )
Friday's data won't have that impact to change direction unless a SIGNIFICANT DROP IS SEEN
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.