What next?
The Italian talks to form a new Conte government has failed. According to time Pres. Mattarella,
- Either new government or snap elections
- Must reflect if opportune to go to elections
- Says Italy needs government to fight pandemic
- Elections would curve government activities and crucial moment for Italy
- Hopes Italy present plans for EU recovery fund as soon as possible
- Caretaker government could not draw up recovery fund plans
- Italian Pres. wants to see new government taking office
- wants all parties in parliament to support it
Looking at the euro vs. US dollar remains steady but near the lows for the day. The price is currently trading at 1.20178 the low price extended to 1.2011. That was just above the September 1 high price of 1.2010 and the November 30 high price of 1.2002. On December 1, the price moved above those highs and stayed above.
A move back below the level would have traders looking toward the 50% retracement of the move up from the November low at 1.1975. Below that is the 100 day moving average (blue line in the chart below). That moving average currently comes in at 1.1954. The last time the price traded below the 100 day moving average was back in early November.
