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George Ma
in
Forex
May 23 14:20

Euro recouped some of its losses to the dollar before the weekend

Next Monday will be a festive day in the US and UK.
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Euro fell against the US dollar to 1.0885 in the first half of the American session, but closer to the end of trading the quotes returned to 1.0900 amid the short positions profits in EUR/USD. Monday is a Memorial Day in the USA, while in the UK it is also a holiday, so the liquidity on the markets will be rather low.
The nearest resistance in EUR/USD pair is at 1.0920.
The nearest support in EUR/USD pair is at 1.0865
At the end of the week, the euro added to the US dollar. The most noticeable increase occurred on Monday due to the positive news on vaccine against coronavirus. These news led to a surge of appetite for risk and the US dollar, as an asset, fell in price amid growing stock markets. American biotechnology company Moderna conducted the first coronavirus vaccine trials and the results look very good. Later in the week, the results were questioned.
On Thursday, euro/dollar tested the psychological level of 1,1000 and made a weekly high. However, since that moment USD has been actively growing in price amid escalation of conflict between the USA and China. On Wednesday, U.S. Senate approved a bill that may deny Chinese companies access to the U.S. stock market, if they can not confirm that they are not under the control of a foreign government. Donald Trump, in his Twitter feed, accused Chinese leader Xi Jinping of being behind misinformation and "a propaganda attack on the US and Europe. Also, a bill was introduced in the U.S. Congress that aims to sanctions China for Hong Kong.
In just 2 days USD strengthened by 1%.