The pair shows a local downward reversal ahead of the ECB’s monetary policy meeting today. The regulator is expected to expand stimulus measures by 500 billion euros, which may support the local stock market and put pressure on the single currency.
Technical side:
The price is below the middle …
The overall trend is downward. The currency pair is trading in the range of the upper limit of the descending price channel. A breakout of the support level of 1.7175 will result in the formation of a descending wave pattern within the wave C of an H2 level descending …
Wednesday, December 9th, today’s news—European markets rise as investors monitor the Brexit talks progress, the UK PM Boris Johnson on the way to Brussels. Asia-Pacific and American markets are also up, S&P 500 hits a record high of 3,700, dollar and gold are weaker amid the vaccine and stimulus optimism. …
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