Today's forex daily analysis on December 17, 2020 will discuss the Euro currency versus the US Dollar, which managed to move higher / upward in yesterday's market trading. The strengthening of the Euro is due to the good Eurozone data that was released, namely the manufacturing and service sector index data of France, Germany and the Eurozone, plus the Eurozone trade balance surplus which was higher than predicted has contributed to the strengthening of the EURUSD movement. In addition, the weakening of the Greenback is caused by many market participants who have released their holdings of the US Dollar. The attitude of market participants as a result of the progress in US stimulus measures and talks about Brexit have led investors to turn to risky assets (such as stocks/indices). Republicans and Democrats in Congress are reportedly "close" to a deal to approve a $900 billion stimulus bill, the most positive record seen in a span of months. The two parties also plan to pass a $1.4 trillion spending bill for the fiscal year that begins Oct. 1 on Friday, to prevent a government shutdown.
Forex Daily Analysis Predictions
Today's FOREX prediction on the EURUSD pair is expected to continue its strengthening (up), and the recommended OP (Open Position) is
BUY at the level of 1.22150. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
| Preference |
BULLISH |
| Target Profit 1 |
1,22250 |
| Target Profit 2 |
1,22350 |
| Stop Loss 1 |
1,22100 |
| Stop Loss 2 |
1,22050 |
This the daily analysis of forex December 17, 2020. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of
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