Intraday Forex Thursday, December 10 (EURUSD, USDJPY, & etc.) Safe-harbour demand gave dollar support. Pound drops as Brussels meeting yield no result

Zulbahri_GB

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Hi everyone. This observation is made around 5:15 UTC today, with 30 minutes time frames. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Asian markets lower on Thursday as investors awaited further news on economic stimulus and COVID-19 vaccines. While ongoing negotiations between the British and the EU over the terms of Britain's exit added another dash of uncertainty.

Pound drops as Brexit impasse unsettled after Brussels meeting. Safe-harbour demand gave dollar support as U.S. virus cases rose. U.S. stimulus remains elusive as proposals and counterproposals flown around the U.S. Capitol.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

[EURUSD]
  • The euro advanced to $1.2098, added 0.16%, after touched a weekly low overnight.​
  • Appetite for the common currency curbed as the European Central Bank is widely expected to expand its stimulus measures to prop up the recession-hit currency bloc at its policy meeting later today.​
  • ECB President Christine Lagarde has made clear in recent weeks that a bigger Pandemic Emergency Purchase Programme (PEPP) and more subsidised long-term loans for banks will form the backbone of its policy measures.​
  • For now, the 19-country euro zone is facing a triple shock: a lingering second wave of the pandemic, the prospect of a hard Brexit and political stalemate over the EU’s 750 billion euro ($908 billion) recovery fund.​
  • Meanwhile, the concern at surging coronavirus cases in the U.S. tempered optimism about vaccinations and fiscal support for the U.S. economy and provided a weight for dollars.​
  • The U.S. Congress will vote this week on a stopgap funding bill to provide more time for lawmakers to reach a deal on a bigger COVID-19 relief package.​
Important Levels to Watch for:
  • Resistance line of 1.2137 and 1.21523.
  • Support line of 1.20876 and 1.20723.
EURUSD.png


[USDJPY]
  • The dollar changed hands at 104.416 per dollar, strengthening from an earlier level around 104.18, added some 0.22% on the day.​
  • USD/JPY recovered from early losses and posted modest gains on strength in the dollar. The dollar rebounded and the yen weakened on deadlocked stimulus talks as negotiations over a pandemic relief package drag on.​
Important Levels to Watch for Today:
  • Resistance line of 104.476 and 104.623.
  • Support line of 103.998 and 103.806.
USDJPY.png


For analysis of USDCHF, GBPUSD and other insight into the market, read more on the WEBSITE or click on TECHNICAL ANALYSIS and DAILY MARKET NEWS.
 
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