EUR/USD Trades at One-Month high as Dollar Keeps Weaker

EUR/USD Trades at One-Month high as Dollar Keeps Weaker

2020-10-21 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

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Fibonacci Levels

XAU/USD: Gold consolidates above 61.8% retracement area. The upcoming possibility of 2 trillion stimulus should help gold to move higher.

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EU Market View

European stock markets are seen opening higher Wednesday, helped by increased confidence for a new U.S. stimulus package to boost the world’s largest economy. The White House and Democrats in the U.S. Congress moved closer to agreement on a new coronavirus relief package on Tuesday as President Donald Trump said he was willing to accept a large aid bill, in an attempt to get a deal done before the Nov. 3 election. Looking ahead, highlights from macroeconomic calendar include UK and Canadian Inflation, ECB's Lagarde, Lane and de Guindos, BoE's Ramsden and Fed's Mester.

EU Key Point 

  • UK PM Johnson To Make Statement on Local Covid-19 Measures
  • Early optimism over fate of stimulus deal fades towards markets’ close.

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