EURUSD has regained it's upward momentum in recent trading sessions and consolidated above key support at 1.21450. We still see the currency pair moving higher above this level as we await key EUR and USD economic data releases next week including Q4 GDP growth releases. If economic data highlights that the US economy has been less impacted by the pandemic than the Eurozone economy this could lead to EURUSD strengthening further. However, we will also look to the FED press conference on Wednesday for indications of future monetary policy which could lead to significant price action.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.