
What is going on with this energy asset these days, and should we prepare for further falls?
2020-10-19 • Updated
The euro has started the week on a positive footing, surging to the key resistance of 1.1800.
EUR/USD has approached the 50-day moving average of 1.1180. The move above this level will drive the price towards October’s high of 1.1830. The RSI indicator signals the further rising as it has just crossed the midpoint. If it manages to break out 1.1830 as well, the way to the peak of mid-September at 1.1860 will be clear. Support levels are 1.1700 and 1.1650.
All eyes on speeches of Fed’s Powell and ECB President Lagarde at 15.00 and 15:45 MT time! If one of the central banks is pessimistic, points to bumpy recovery, and hints for further easing or lowering rates, it will drive its currency down. Otherwise - the optimistic comments and no clues for more easing will drive the currency up.
What is going on with this energy asset these days, and should we prepare for further falls?
For the last several weeks gas was skyrocketing at an enormous pace. It has gained more than 17% from August 18. What is the reason for such moves?
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