German Central Bank governor and ECB Governing Council member J. Weidmann said in an interview for a German newspaper Weidmann:
We expect Germany's debt burden during the pandemic to be lower than it was during the 2008 financial crisis;
Does not think that the second wave of the coronavirus will cause more damage than the first wave;
Emergency fiscal support measures taken by the German government should be withdrawn immediately after the end of the coronavirus crisis;
Governments should not expect central banks to keep interest rates low forever;
Price pressures in the eurozone may remain weak in the coming years;
It may take time to change course in rate polling;
Governments must be prepared to raise rates;
The outlook for the economy will depend on how the coronavirus situation develops after lockdowns are lifted.
Our Analysis:
Provided that the currency pair is traded above 1.2275, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2293
- Take Profit 1: 1.2320
- Take Profit 2: 1.2340
Alternative scenario:
In case of breakdown of the level 1.2275, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2275
- Take Profit 1: 1.2255
- Take Profit 2: 1.2235
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