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C. Lagarde pushed back against pessimism

C. Lagarde pushed back against pessimism | 14 January 2021

14 January 2021, EUR/USD

C. Lagarde pushed back against pessimism

EURUSD trading plan:

European Central Bank President Christine Lagarde pushed back against pessimism, predicting an economic rebound as COVID-19 uncertainty subsides. Even with much of the 19-member euro area in lockdown, Lagarde continued to forecast a recovery, provided that economic restrictions can be lifted from the second quarter. The euro's persistent rise against the dollar also risks dampening growth and inflation. "We are very attentive, we will continue being extremely attentive to the impact on prices that the exchange rates have," Lagarde said, adding that the ECB does not target any particular exchange rate level.

Investment idea: Buy 1.2130 and take profit 1.2200.

David Johnson
Analyst of «FreshForex» company
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