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EURUSD – a significant increase in LIBOR rates

06.12.2021

Important events today:

An influential macroeconomic event is not expected.

EURUSD:

You can consider opening short positions when rising to the nearest resistance levels. The US dollar was favorably affected by the rise in the London Interbank Offered Rate, which hit a new monthly high. Bankers are actively raising USD rates, which is a good indicator of the demand for the American currency.

Most likely, the dollar will rise at least until 15.12, as on that date the US Federal Reserve will hold its last meeting this year. The Fed will announce a new forecast for GDP, labor market and inflation, as well as hold a press conference where Jerome Powell will have to announce the volume of the reduction in asset purchases.

Based on the well-known rule “buy on hearsay – sell on facts!”, The dollar can be bought before the meeting, after which they will start fixing profits, which will provoke a correction that can last until the end of the year.

Recommendation: Sells 1.1320 / 1.1347 with TP 1.1262.