- The dollar fails to cut weekly losses.
- EUR / USD remains close to Thursday’s peak of 1.2272.
He EUR / USD is validating significant weekly gains on Friday. It remains around 1.2250, unchanged from Thursday’s close. The price was moving in a small range between 1.2240 and 1.2260 for most of the European session. It recently jumped to 1.2268, worse then it returned to the mentioned range.
The markets are shown with the majority of movements in ranges and confirming the recent weakness of the dollar. Despite the sharp decline in the greenback, there are no signs of a possible significant correction and weakness persists. DXY remains below 90.00, at a two-year lows.
He EUR / USD is up 150 pips from last Friday and is on track to have the highest weekly close since April 2018. The 1.2100 / 20 break reinforced the bullish bias and it is now entering what was the early 2018 range between 1.22 and 1.25.
Equity markets remain in positive territory throughout the world, contributing to the weakness of the dollar. With no impact data ahead, operators go into vacation mode. The one that ends today is the last full week of 2020.
US data will be released today that is not expected to have an impact on the market. Among them is the current account index and the leading indicator index. A focus of attention is the negotiation for Brexit, where an agreement could be reached in the next few hours or the end of the negotiations.
Technical levels
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