FX MARKET REPORT 27.10.2020

FX MARKET REPORT 27.10.2020

FX MARKET REPORT 27.10.2020

Daily Commentary
FX MARKET REPORT 27.10.2020
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FX MARKET REPORT 27.10.2020

GBP/USD is possibly on the verge of a continuation bullish impulse and the bulls are encouraged by the amount of structure supporting the outlook. Bulls are waiting for bullish conditions to be confirmed. The 1.32 area is compelling on a test of 1.3080. EUR/USD is holding the higher ground around 1.1825 amidst persisting coronavirus concerns. The US dollar’s retreat saves the day for the EUR bulls, at the moment. Downward momentum has improved a tad and the bias for today is tilted to the downside. That said, 1.1770 is a strong support and may not be easy to break (minor support is at 1.1790). Resistance is at 1.1835 followed by 1.1860. The dollar edged lower in early European trade Tuesday, handing back some recent gains, although activity is starting to weaken as the U.S. presidential election draws near. The Dollar Index was down 0.1% at 92.985. USD/JPY was largely flat at 104.80, while USD/CNY was flat at 6.7110.

GBP/USD is possibly on the verge of a continuation bullish impulse and the bulls are encouraged by the amount of structure supporting the outlook. Bulls are waiting for bullish conditions to be confirmed. The 1.32 area is compelling on a test of 1.3080. EUR/USD is holding the higher ground around 1.1825 amidst persisting coronavirus concerns.…

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