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Fundamental analysis and forecast of EUR / USD 20.11.2019: Conflict between the US and China exert pressure on the EUR / USD pair


EUR / USD is now trading with a decrease of 0.1% on the background of deteriorating relations between the US and China. The US Senate passed a bill on the protection of human rights in Hong Kong. Transmitted for further consideration in the House. Chinese Foreign Ministry strongly protested US attempts to interfere in the internal affairs of China. Investors fear that the conflict can seriously slow down the process of trade negotiations between the US and China. Demand for risky assets is reduced, which has a negative impact on the European currency. Dollar on the contrary, is considered by many investors as a defensive asset on trading risks.


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The European economic calendar today there is important news, so the dominant influence on the market will provide news geopolitics. Most likely the pair EUR / USD will continue to decline.

Trading in the US session will focus on minutes of the last meeting of the FOMC.

On the chart corrective movement develops, after failing to overcome the resistance at 1.1090. Today, we are waiting for further reduction of quotations and target 1.1055.

Resistance levels: 1.1090, 1.1130, 1.1180.

Levels of support: 1.1055, 1.0990, 1.0945

The main scenario - decline to 1.1055

Alternative - the breakdown of resistance at 1.1090 and rising to 1.1130.  

Fundamental background - moderately negative. The graph bearish signals predominate. Short-term considering the sale of the level of 1.1080.


Analytics  FORTFS



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