Intra-Day Market Moving News and Views

Update Time: 20 Nov 2020 05:30GMT

EUR/USD - 1.1871... The single currency went through a volatile session on Thursday. Although euro rebounded from 1.1833 at Asian open to 1.1852 at European open, price dropped to 1.1817 on active safe-haven usd buying. However, the pair erased intra-day losses and rallied to 1.1882 near New York close as U.S. Democrats and Republicans agreed to resume Covid-19 relief talks before weakening to 1.1866 in Australia today on profit-taking but then recovered to 1.1878 in Asian morning.

Despite euro's erratic fall from Tuesday's 1-week high at 1.1893 to 1.1817 yesterday, subsequent rise to 1.1882 suggests re-test of November's 7-week peak at 1.1919 would be seen after consolidation, where break would extend recent upmove from November's 3-month trough at 1.1603 to 1.1935/40 before prospect of retreat due to loss of upward momentum.
Bids are noted at 1.1870-65 with move below and stops below 1.1830 while offers are tipped at 1.1900/10 with stops above 1.1940/50.

On the data front, only Italy will release industrial orders and industrial sales at 09:00 GMT. Also, market focus will be at 08:00 GMT, where ECB President Christine Lagarde will speak at the online Frankfurt European Banking Congress, followed by German Finance Minister Olaf Scholz and European Commission Vice President Frans Timmermans. Traders should also keep an eye out for any U.S. stimulus talks related headlines.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

GBP/USD tumbles from the highest since 2018 on the Brexit impasse

The GBP/USD roller coaster continues with a downfall below 1.35 after the pair hit a 31-month high of 1.3539 earlier. Brexit talks have yet to yield an agreement. Negotiations are set to continue through the weekend.


EUR/USD battles 1.2150 after disappointing NFP

EUR/USD is trading off the 32-month highs amid bumps in US stimulus and vaccine distribution. Markets await the all-important US Nonfarm Payrolls missed expectations with 245K jobs gained in November. 


XAU/USD fails to break $1850 and turns to the downside

Gold peaked after the beginning of the American session at $1848/oz reaching the highest level since November 23 and then turned to the downside. It bottomed at $1829 and is it about to end the week hovering around $1830.

Gold news

Dollar downfall explained and what's next for markets

The safe-haven US dollar is hitting multi-month and multi-year lows against its peers while stocks are on fire. What is behind the risk-on rally? Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss markets' moving parts as 2020 nears its end.

Read more

Extra week of Black Friday!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex Majors