EUR/USD has gained nearly 2.5% in the past seven days on a broader USD weakness. The buyers are now attempting to break the psychologically-important $1.10 resistance, with further gains possible on the bullish inverse head and shoulder chart pattern. Fundamental analysis: ECB issues a warning The chief economist at European Central Bank (ECB), Philip Lane, said that the bank can further adjust its instruments if needed in another attempt to reassure investors and boost business activity. The ECB left its key interest rate unchanged in yesterday’s meeting. “We will adjust PEPP composition as much as necessary, for as long as
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