EUR/USD analysis for November 02 2020 – Downside target at the price of 1.1620 reached but potential for next downside target

0
40
EUR/USD analysis for November 02 2020 - Downside target at the price of 1.1620 reached but potential for next downside target

EUR/USD analysis for November 02 2020 – Downside target at the price of 1.1620 reached but potential for next downside target

ECB’s Rehn: Inflation expectations are stuck too low

  • Says Fed review conclusions must be evaluated
  • Hopes that ECB will adopt a ‘clearly’ symmetrical target
  • Says monetary policy strategy should be reviewed every five years going forward

Nothing that really stands out from Rehn, as he is mainly just reaffirming the current situation. As for the current ECB strategy review, it was supposed to have been done by now but has been dragged to next year because of the virus crisis.

The headline supports the narrative that more easing action is to follow next month.

Further Development

EUR/USD analysis for November 02 2020 - Downside target at the price of 1.1620 reached but potential for next downside target

Based on the graph above I found that on the top of the list we got Lumber and Feeder Catt;e today and on the bottom VIX and Gasoline RBOB

Key Levels:

Resistance: 1,1650 and 1,1700

Support level: 1,15

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/193732/