As reported last night by the President of the Richmond Federal Reserve Bank T. Barkin:
The next few months will be difficult for people; governments are adapting to the growing risks associated with the virus;
The news about the vaccine are very positive for the business community, which can start planning investments;
Every new month of buying assets means additional stimulus and more support for the economy;
When asked about the new stimulus measures: "Let's see how things go further."
Our Analysis:
Provided that the currency pair is traded below 1.1860, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1850
- Take Profit 1: 1.1830
- Take Profit 2: 1.1820
Alternative scenario:
In case of breakout of the level 1.1860, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1860
- Take Profit 1: 1.1875
- Take Profit 2: 1.1890
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