- EUR / USD price analysis remains brilled below 1,1600 in the middle of a deteriorated risk observation.
- Hed careful tone and political chaos in France weights in the euro.
- Traders are looking at G20 and IMF meetings for a clear policy direction.
Analysis EUR / USD Analysis suggests that the para remains pressure, traded close to 1,1590 after the fall below 1,1600 thresholds due to French political instability and American trade tensions in the USA. After President Trump threatened to impose 100% tariff on Chinese imports from 1. November, the marketing sensement became cautious. However, his position later softened, which was mitigated by the fears of the political downtime. This uncertainty revived the demand for a safe haven of dollars.
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It is France in the center of attention such as President Emmanuel Macron again written Sebastian Lecorn as PM. The updated cabinet is prepared to improve the strict fiscal budget through the parliament.
In addition, the market feeling is cautious in the middle of the votes about the distrust this week. Recording elections are added further aside. The euro strives as investors remain cautious about escalating political instability and sovereign bonds.
On the other hand, the conditions of the US in the US government still exists, delaying key federal payments and economic editions. This reduced economic visibility supports expectations for another two federal reserve reports of 25 bases during the remaining meetings.
All in all, EUR / USD remains in decreasing in terms of when it is in the middle of a global geopolitical uncertainty.
EUR / USD Key Day events
Today, market activity remains muted in the middle of closing Columbus. However, traders carefully monitor G20 and IMF meetings for insight into policy direction.
EUR / USD Technical analysis: Bersian Bias continues below 1,1600
EUR / USD 4-hour graph indicates bear pressure, holding close to level 1,1580. The price remains below the 20-period of about 1,1650, 50-period ma near 1,1700, and the 200-period of about 1,1730. This pattern signals a wider negative bias for a couple.
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The RSI remains close to 40, underlines the weak Bullosh trend and a low recovery cover, unless customers again control control above 1,1650 levels. Immediate Support sites at 1,1550 and extends to 1,1500. About 1,1650 and 1,1730 level lies on upside down, resilience. All in all, the couple means the bear trend for as long as it trades below 50ths. A permanent break above 1,1730 can switch the trend.
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