EURUSD at the bottom level of the Uptrend line

EURUSD Analysis

EURUSD has reached the bottom level (higher low) of the uptrend line.

Let’s wait for the confirmation of breakout or reversal.

USD becomes strong due to Non-releasing of stimulus funds and upcoming election.

The second wave of Corona Virus

second wave of covid 19 corona virus

France and Germany impose one-month new lockdown measures as cases again surge back to higher, Europe in most areas are imposed with tight restrictions for controlling cases.

The upcoming European Central Bank (ECB) meeting will clarify whether Lagarde will add stimulus purchase program to recover economy or not is expectations by investors mind.

france corona virus affect for second time

France imposes new lockdown measures are hurting for European economy since it is the second-largest economy in European nations. In Upcoming days Euro will suffer little downfall ahead of economic recovery is a challenging scenario.

ECB may pass additional stimulus package then Euro will safe from this second attack of Covid-19. US and Europe now in lockdown by the Second wave of covid-19.

US Dollar

Virus surges in US, Europe, Britain favours a US dollar for surging to previous highs as expected by investors mind.

Donald Trump still holds the Stimulus package and planning to release funds only after completing the U.S Election.

Trump 2020 election keep america great again

The US have 2 major upcoming things to do:

  1. Releasing the Covid-19 Stimulus Package funds
  2. U.S President Election (Trump Vs Biden)

Polls indicating Joe Biden leading over Trump, but polls are opposite in 2016 election for Trump victory. Hence Investors fear over election uncertainty and Covid-19 resurgence in most of the world.

Anyhow the US dollar plays a dominant role in this November month as fears start in the market.

Get Each forex signal with Chart Analysis and Reason for buying or selling the trade which helps you to Trade with confidence on your trading account.

If you like to receive more best forex signals and analysis at an accurate time, subscribe to premium or supreme signal plan here: forexgdp.com/forex-signals

 

 

FOREX GDP

Forex GDP team provides High Quality Forex signals services exclusively to all type of traders around the world. Each signal given with chart analysis that helps you to trade with confidence on your account. Forex GDP team worked with Major banks, Financial Institutions, Liquidity providers, Forex brokers in different job positions such as Equity Dealer, Fund Manager, Senior Market Analyst, Risk Manager and other major roles in Forex Trading Companies. Try free now to see the quality trades on your account.

FOREX GDP