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The negative signal for the U.S. currency

The negative signal for the U.S. currency | 11 November 2020

11 November 2020, EUR/USD

The negative signal for the U.S. currency

EURUSD trading plan:

A continuing second wave of COVID-19 cases in the U.S. saw some states impose restrictions with the advent of winter in the Northern Hemisphere bringing colder weather and worries over soaring hospitalizations. Of the over 51 million global cases recorded as of Nov. 11, over 10.2 million cases are U.S. cases, according to data from Johns Hopkins University. In the interbank lending market in London, the 3 М Libor USD rate has renewed its historical minimum, which indicates an excess of dollars in the banking system. This is a negative signal for the U.S. currency!

Trading recommendation: Buy 1.1790 and take profit 1.1850

David Johnson
Analyst of «FreshForex» company
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