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EUR / USD surpasses 1.1800 and marks highs in a week

  • Euro gains momentum on Tuesday and appreciates in the market.
  • EUR / USD aims to test the October highs.

He EUR / USD gained momentum in the last hours due to an advance in the stock markets and a strengthening of the euro in the market. The price surpassed 1.1795 and jumped to 1.1817, reaching the highest level since October 9. The pair remains in the zone of the highs with the bullish tone intact.

The euro is rising for the third day in a row, having closed back above the 20-day moving average on Monday. Now the next objective of the EUR / USD seems to be in the highs of this month that is located in the zone of 1.1830.

Between politics, Brexit and coronavirus

In Europe, attention is on the one hand in the second wave of infections by coronavirus, with different views on the new restrictions and possible internal conflicts and what happens with Brexit. It is estimated that today the chief negotiator of the European Union Barnier and his counterpart from the United Kingdom, Frost, will speak again. EUR / GBP is advancing on Tuesday, giving extra support to the EUR / USD.

In EE.UU. The focus of attention Tuesday is on negotiations between Nacy Pelosi, the leader of the opposition in the House of Representatives, and Treasury Secretary Steve Mnuchin for a new round of stimulus. Pelosi indicated that today is the last day to get an agreement that can be approved before the November 3 elections. Although it represents a further advance, the proximity of the elections makes an agreement and its subsequent approval difficult. Thursday will be the second and final debate between President Trump and Democratic candidate Biden.

Regarding data, today will be published the home start report and building permits. In addition, several Federal Reserve officials (Quarles, Evans, Brainard and Bostic) will speak again.

Technical levels

EUR/USD

Panorama

Today’s Last Price1.1808

Today’s Daily Change0.0038

Today’s Daily Change% 0.32

Today’s Daily Open1,177

Trends

20 Daily SMA1.1732

SMA of 50 Daily1.1795

100 Daily SMA1,161

200 SMA Daily1.1285

Levels

Daily Previous High1.1794

Daily Previous Low1.1703

Weekly Preview High1.1827

Weekly Prior Minimum 1.1688

Previous Monthly High1.2011

Monthly Previous Low1.1612

Daily Fibonacci 38.2% 1.1759

Daily Fibonacci 61.8% 1.1738

Daily Pivot Point S11.1718

Daily Pivot Point S21.1665

Daily Pivot Point S31.1627

Daily Pivot Point R11.1808

Daily Pivot Point R21.1846

Daily Pivot Point R31.1898

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Credits: Forex Street

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