EUR/USD analysis for October 20 2020 – Second target met around 1.1820. Potential for test of third target at 1.1870
October 20, 2020 12:24 pm
BOE’s Vlieghe: Tiering has been effective in getting the benefits of negative rates, while reducing costs
BOE would have some tolerance for short-term inflation cased by no-deal Brexit
Main concern about a no-deal Brexit is on business, consumer confidence and the exchange rate
The headline comment continues to make a case for negative rates to be introduced by the BOE in the future.
“My own view is that the risk that negative rates end up being counterproductive to the aims of monetary policy is low.”
Further Development
Analyzing the current trading chart of EUR, I found that EUR is trading close to my second target at 1,1825 and that there is still chance for strong upside swing.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Natural gas and Lumber today and on the bottom Feeder Cattle and VIX.
Key Levels:
Resistance: 1,1825 and 1,1870
Support level: 1,1770
The material has been provided by InstaForex Company – www.instaforex.com
BOE’s Vlieghe: Tiering has been effective in getting the benefits of negative rates, while reducing costs
The headline comment continues to make a case for negative rates to be introduced by the BOE in the future.
Further Development
Analyzing the current trading chart of EUR, I found that EUR is trading close to my second target at 1,1825 and that there is still chance for strong upside swing.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Natural gas and Lumber today and on the bottom Feeder Cattle and VIX.
Key Levels:
Resistance: 1,1825 and 1,1870
Support level: 1,1770
The material has been provided by InstaForex Company – www.instaforex.com
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