EUR/USD analysis for November 05 2020 – Watch for the breakout of the multi week balance to confirm further direction

Trading 05 Nov 2020 Donner votre avis

ECB's de Guindos: New ECB projections not going to be very far away from EC forecast today

de Guindos hints that the ECB will cut its growth forecasts next month

He says growth will be more sluggish next year than what policymakers have initially projected, and that they will update their projections at the December meeting.

Adding that he believes that "they're not going to be very far away from the projections that we saw today from the European Commission (EC)".

That's a bit odd because the -0.1% q/q forecast by the EC earlier is rather conservative in my view when you think about all the tighter restrictions that are being applied across the region now. I suppose he could be alluding more towards 2021 but we'll see.

Further Development

analytics5fa3f2217bf53.jpg

Based on the graph above I found that on the top of the list we got Silver and Platinum today and on the bottom VIX and heating oil.

Key Levels:

Resistance: 1,1880

Support levels: 1,1600

The material has been provided by InstaForex Company - www.instaforex.com

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