Forex Forecast and Cryptocurrencies Forecast for October 19 – 23, 2020

First, a review of last week’s events: – EUR/USD . The market is now ruled by two main factors: the second wave of the COVID-19 pandemic and the upcoming November 3 presidential election in the United States. A rise of nearly 900,000 in applications for unemployment benefits showed that the labor market and the U.S. economy need more stimulus measures. And although, according to US Treasury Secretary Stephen Mnuchin, an agreement on such measures between Democrats and Republicans before the election is unlikely, negative statistics have tempered greatly the market risk appetite and pushed down stock indices such as the S&P500. This clearly benefited the US currency: by Thursday, the dollar gained 135 points, and the EUR/USD pair reached a local bottom at 1.1685. This was followed by a rebound downward, and the pair completed the five-day period at 1.1715; It is possible that the “American” would continue to strengthen its position, but the “European” is actively helped by the confi

The post Forex Forecast and Cryptocurrencies Forecast for October 19 – 23, 2020 first appeared on Forex news forex trade.

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