21.07.202017:43 Forex Analysis & Reviews: Evening review on EURUSD for July 21, 2020

The euro is moving at constant growth after the EU summit decided the allocation of 750 billion euros to support the economy and an additional 1 trillion euros for the EU budget. Thus, the support for the Eurozone economy is almost 2 times higher than last year - not counting the measures from the ECB.

Note that in Russia, the Ministry of Finance, on the contrary, plans to cut budget expenditures for 2021 and subsequent years - that is, the policy of the Russian authorities in the crisis differs from the EU policy not only in size but also in direction . In developed countries, governments increase spending in times of crisis - overlapping with budget expenditures the falling costs of individuals and businesses.

EURUSD:

You may keep purchases from 1.1345 and wait until the level of 1.1500 is broken and consolidation above. Further decisions will be made upon this scenario.