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EUR/USD is steady above 1.1850 in the hope of corona vaccine




EUR/USD is steady above 1.1850 in the hope of corona vaccine

  • Update Time : Tuesday, November 17, 2020
  • 14 Time View
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EUR/USD is steady above 1.1850 in the hope of corona vaccine
EUR/USD is steady above 1.1850 in the hope of corona vaccine
  • The price of EUR/USD has risen due to increased demand for risky assets in the news of vaccines.
  • The EUR/USD pair could appreciate further due to the Federal Reserve’s precarious position.
  • The US dollar, known as the safe haven has depreciated for the coronavirus vaccine and the hope that the world economy will return to normal in 2021, and the EUR/USD pair is hovering above 1.1850.

Four consecutive days of price rising

The EUR/USD currency pair rose from 1.1759 to 1.1869 in the last three days and could rise for four days in a row today as biotechnology company Moderna announced positive news about the corona vaccine, boosting risk sentiment in the market. A week ago, the US drug company Pfizer released similar results.

In addition to improving the condition of risky currencies, changes in the Federal Reserve’s economic policy may also increase the value of the pair. Experts say the Fed’s policy needs to change somewhat in line with the larger economic stimulus. But approving an incentive package for U.S. policymakers would be a lot of trouble since the U.S. Congress is divided and President Trump does not want to accept the rate.

However, even after all this, the US stock market needs to be monitored. If for any reason the US stock market price falls, the demand for the US dollar will increase and the price of the pair will fall.

Technical levels

Important levels:

Today last price 1.1858
Today Daily Change 0.0006
Today Daily Change% 0.05
Today daily open 1.1852

Trends:

Daily SMA20 1.1784
Daily SMA50 1.1771
Daily SMA100 1.1714
Daily SMA200 1.1358

Other levels:

Previous Daily High 1.1869
Previous Daily Low 1.1814
Previous Weekly High 1.192
Previous Weekly Low 1.1746
Previous Monthly High 1.1881
Previous Monthly Low 1.164
Daily Fibonacci 38.2% 1.1848
Daily Fibonacci 61.8% 1.1835
Daily Pivot Point S1 1.1821
Daily Pivot Point S2 1.1791
Daily Pivot Point S3 1.1767
Daily Pivot Point R1 1.1876
Daily Pivot Point R2 1.19
Daily Pivot Point R3 1.193

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