[VIDEO] Lagarde adds to the Euro dovishness
Joe Perry February 8, 2021 7:10 PM
Accommodative monetary policy stance remains essential
ECB President Christine Lagarde spoke earlier in front of the European Parliament and told members “Accommodative monetary policy stance remains essential!” In the charts today, EUR/USD is testing a confluence of resistance between 1.2050 and 1.2090.
Given the technical and Christine Lagarde’s dovishness, watch for bears to enter the market near current levels and look to test Fridays lows.
Learn more about forex trading opportunities.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.