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13.12.201908:40 Forex Analysis & Reviews: EUR/USD trading plan for December 13, 2019. The victory of the Conservative party in Britain supported the pound and the euro.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 13.12.2019 analysis

The ECB left monetary policy unchanged and did not support the euro. It came instead from Britain, from the preliminary data that B. Johnson's party is confidently winning the election with about 368 seats out of 650. Winning would allow Johnson to hold his version of Brexit without further postponements on January 31, which consequently made the pound show a huge increase with more than 300 points from 1.3170, its level at the beginning of the day, to more than 1.3500.

The euro's gains are much more modest, nevertheless, the EUR/USD pair has reached for the last 3 months, a high of 1.1180 - a new signal that the market is ready to move the euro up. The EUR rose against the yen.

News also came out of the European events that the US is ready to reduce tariffs against China if the said country makes significant concessions in trade negotiations.

EUR/USD: Keep buying at 1.1035 -with possible rollbacks at 1.1130.

Jozef Kovach
Analytical expert of InstaForex
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