News:
EU leaders are gathering virtually for a video summit that is attempting to find consensus for an ambitious €750bn (£676bn; $840bn) EU coronavirus recovery fund.
Several northern European nations are unhappy about the EU commission plan because it involves collectively raising €500bn as grants for countries worst hit by the pandemic, notably Italy and Spain.
A group known as the "frugal four" – Sweden, Denmark, Austria and the Netherlands – have made clear their continued opposition to grants, rather than loans. There are also divisions over the proposed €1.1tn EU budget.
Technical analysis:
EUR/USD has been trading sideways at the price of 1,1210. The EUR is trading in well defined short-term up trend and I do expect upward continuation based on the daily time-frame towards the levels at 1,1335 and 1,1400.
Trading recommendation:
Watch for potential buying opportunities with the potential stop at 1,1180.
I found that there is test and reject of the 20 EMA on the daily time-frame.
Support level is set at 1,1180 and 1,1150
