The Euro currency cannot manage to break through the level of 1.1760 for quite some time, but it finally did it this morning.
The target is the minimum of 1.1600 from November.
It is quite clear why the euro made a downward movement. The particular reason lies in Europe’s third wave of COVID-19, associated with new lockdowns. As a result of this, there is a stagnant economy. Moreover, the vaccination process is not doing well.
On the contrary, vaccinations in the United States are ahead of schedule, which is leading to the growth of the economy.
We keep selling from the level of 1.1870.
It is not possible to buy yet, as there is no correct level.
If the euro draws a strong rebound to the top and forms the correct level for the four-hour chart, then buying can be considered.
The material has been provided by InstaForex Company – www.instaforex.com
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