Analytics

News, Trends, & Analytics 13.10.2020

Will the US dollar continue to decline?

Today, the focus is on quarantine in the UK, a possible easing of the Bank of Japan’s credit policy, as well as the recommendations of Goldman Sachs.

 

Calendar

12:30 UTC

The core US Consumer Price Index will be released. The forecasted figure is 0.2%. If the real data turns out to be higher, the USD will receive positive momentum.

Assets for trading: EUR/USD, USD/JPY

 

News

The UK imposes additional quarantine restrictions. Affects GBP


The Bank of Japan hints at the possibility of easing monetary policy. Affects JPY


AstraZeneca’s COVID-19 drug is undergoing extensive trials. Affects the S&P 500


American oil workers resume the production of black gold after Hurricane Delta. Affects Brent


Goldman Sachs recommends short positions against the US dollar. Affects USD

 

Technical Analysis

EUR/USD

The largest investment bank Goldman Sachs recommended selling the US dollar in a note to investors on Friday. Bank analysts see no prospects for USD growth until the end of the year.

If EUR/USD gains a foothold above 1.18300, traders may start actively buying the euro again. If this scenario occurs, the bullish trend may continue to 1.20000.

EUR/CHF

The pair may reverse from the strong support level of 1.07400.

EUR/GBP

We believe that one of the most realistic scenarios for this asset is a drop in quotations to the lower border of the descending channel.

 

EUR/GBP on this day in history

  • Since 2000, October 13th has been a trading day 13 times.
  • On 30% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.95%.
  • The downward trend was limited to 0.86%.
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