Analytics

News, Trends, & Analytics 11.11.2020

EU unhappy with Amazon

Today, the focus is on the failure of Boris Johnson, waiting for permission to operate the Boeing 737 MAX, as well as Amazon’s problems in the EU.

 

Calendar

13:00 UTC

ECB President Christine Lagarde will deliver a speech. The event may cause an increase in the volatility of trading in currency pairs with EUR.

Assets to trade: EUR/CHF, EUR/USD

 

News

EU authorities accuse Amazon of violating antitrust laws. Affects Amazon


The Spanish Minister of Health, Salvador Illa, promises to supply the COVID-19 vaccine in early 2021. Affects EUR


The UK Parliament has rejected the Domestic Market Bill. Affects GBP


The Boeing 737 MAX could return to market on November 18. Affects Boeing


German economic sentiment has declined for the second straight month. Affects EUR

 

Technical Analysis

Amazon

The European Commission has opened a second antitrust case against Amazon. The EU authorities sent a list of claims to the company, which are based on Amazon’s abuse of dominant market position.

Against this background, the company’s shares may fall to the psychological level of 3000. But if this benchmark is broken, the asset may be in for a long downtrend.

GBP/CHF

The currency pair had two excellent days, but a downward correction can start from the resistance level of 1.22000.

USD/CAD

The asset’s chart has formed a pin-bar reversal pattern. We expect an activation of bullish sentiments.

 

USD/CAD on this day in history

  • Since 2000, November 11th has been a trading day 13 times.
  • On 62% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.58%.
  • The downward trend was limited to 0.22%.
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