Analysis of transactions in the EUR / USD pair
Euro bears tried everything they could to take control of the market, especially after the ECB's decision to increase its bond purchase program last Thursday. However, they failed to trigger a massive sell-off in the euro, as many traders continue to believe in risks and a major recovery in the European economy next year. As a result, short positions from 1.2137 only brought 20 pips of profit, and despite the excellent data on US consumer sentiment, the euro did not go down further.
Trading recommendations for December 14
Today, traders' attention will be focused on the data on Germany's wholesale prices, as well as on the speeches of ECB representatives. Board Member Fabio Panetta will deliver a speech in the morning, followed by a series of statements from Isabel Schnabel. The Bundesbank will also release a report today.
It seems that the current low market volatility will keep the chance for further growth in the European currency.
Analysis of transactions in the GBP / USD pair
Short positions in the pound brought quite a lot of profit last Friday. The quote managed to move 70 pips down from 1.3300, reaching the level of 1.3227. It was the tense situation surrounding the post-Brexit trade agreement that kept the pound's volatility high, as evidenced by the huge price gap during today's Asian session.
Trading recommendations for December 14
Negotiations on Brexit will continue this week, which gives traders hope that a deal will be concluded at the last moment. But if there is no news on the trade agreement, volatility may decline sharply, especially since there are no important economic reports scheduled for release both in the UK and the US today.