News, Trends, Analytics 21.11.2019

The EU countries might violate their rules

Today, the market will focus on illegal transactions of Ripple, an increase in oil production in Russia, and a violation of the EU’s fiscal rules.



Researchers found that approximately $400 million worth of Ripple cryptocurrency is tied to illegal transactions. Affects Ripple

Iran’s government once again implemented Internet shutdown amidst massive protests in the country. Affects Brent

The President of Russia stated an increase in oil production in the country. Affects Brent

The European Commission is worried about the budgets of Italy and France, expecting violations of the EU law. Affects EUR

Isabel Schnabel, Candidate for the position of ECB executive board member called for desisting from soft rates. Affects EUR



12:30 GMT

The ECB releases the minutes of its monetary policy meeting. We remind you that the board of the bank decided to keep the rate at the same level. The contents of the minutes may lead to increased volatility of the EUR.

13:30 GMT

The Philadelphia Fed releases an update on manufacturing activity. Experts expect an increase from 5.6 to 7.0 points. But if the result is lower, the USD will get under pressure.

15:00 GMT

The US releases its October data on existing home sales. A reading above 5,47 will give momentum to the ETF US Real Estate.


Technical analysis


The European Commission started talking about possible violations of the fiscal law by eight EU countries. The key players are Italy and France. However, they made no proactive statements. It is possible that the EU might consider changing its budget rules.

The EUR/USD began to decline after an unsuccessful attempt to fix above the mirror level at 1,10730. The capacity is limited to the round level of 1,10000.


Long wicks of daily candles of November 19 and November 18 suggest that a trend up might soon begin.


The chart is showing the classical trend continuation pattern, which the quotes returned to after breaking the level.


EUR/USD on this day in history

  • Since 2000, November 21 has been a trading day 15 times.
  • On 53% of those days, the asset ended with growth.
  • The maximum reinforcement range was 0.99%
  • The trend down was limited to 1.20%.
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