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Good and bad news | 18 November 2020

18 November 2020, EUR/USD

EURUSD trading plan:

U.S. retail sales increased less than expected in October and could slow further, restrained by spiraling new COVID-19 infections. Retail sales rose 0.3% last month, the smallest gain since the recovery started in May, after increasing 1.6% in September, the Commerce Department said. They account for the goods component of consumer spending, with services such as healthcare and hotel accommodation making up the other portion. This is a negative signal for the dollar. The ECB has published fresh statistics on the change in assets on the balance sheet. Assets increased by € 36.57 billion over the past week, against € 21.14 billion a week earlier. The ECB balance has updated its all-time high. This is a negative signal for the European currency.

Trading recommendation: range 1.1830 -1.1920.

David Johnson
Analyst of «FreshForex» company
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