EUR - BEARISH
1️⃣ Europe has been hit hard by the second wave of the coronavirus, becoming the second region after Latin America to surpass 250,000 deaths on Saturday.
2️⃣ German IFO declined as businesses grow more nervous with virus cases on the rise.
3️⃣ Main focus this week is ECB who is widely expected to be dovish as new restrictions curtail economic activity.
USD - BULLISH
1️⃣ General risk aversion sentiment as coronavirus infections continue to spike in Europe and the US. he US, Russia and France set daily records for virus infections, and deaths in the US surpassed 225K.
2️⃣ Expect positive numbers from GDP data this week. Forecasts are calling for a record rebound after a historic plunge in the Q2.
3️⃣ Hopes of a new stimulus bill before the presidential election next week faded further after White House economic adviser Larry Kudlow told differences between the two sides “have narrowed,” but “the more it narrows, the more conditions come up on the other side”.
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TECHNICAL
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- We're looking to short EURUSD on SBR level + SMA50 area on H1 chart.
- EURUSD in bearish zone.
1️⃣ Europe has been hit hard by the second wave of the coronavirus, becoming the second region after Latin America to surpass 250,000 deaths on Saturday.
2️⃣ German IFO declined as businesses grow more nervous with virus cases on the rise.
3️⃣ Main focus this week is ECB who is widely expected to be dovish as new restrictions curtail economic activity.
USD - BULLISH
1️⃣ General risk aversion sentiment as coronavirus infections continue to spike in Europe and the US. he US, Russia and France set daily records for virus infections, and deaths in the US surpassed 225K.
2️⃣ Expect positive numbers from GDP data this week. Forecasts are calling for a record rebound after a historic plunge in the Q2.
3️⃣ Hopes of a new stimulus bill before the presidential election next week faded further after White House economic adviser Larry Kudlow told differences between the two sides “have narrowed,” but “the more it narrows, the more conditions come up on the other side”.
=====
TECHNICAL
=====
- We're looking to short EURUSD on SBR level + SMA50 area on H1 chart.
- EURUSD in bearish zone.
Trade closed: target reached