EUR - BEARISH
1️⃣ EUR declined amid the demand in USD.
2️⃣ German investor morale fell more than expected in November.
3️⃣ Investors remain concerned about rising COVID-19 cases and new lockdowns across Europe.
USD - BULLISH
1️⃣ Expectations the Fed will not need to leave rates at record low for so long and hopes of a faster economic recovery in the US if a coronavirus vaccine is available soon.
2️⃣ Cleveland Federal Reserve Bank President Loretta Mester said the emergency lending programs the Fed set up during the coronavirus pandemic are still needed.
3️⃣ Prospects of a divided Congress which will prevent a big change in current status quo including taxes and regulation also supported USD upward trend.
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Technical
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We are looking to sell EURUSD at SBR level + near SMA 50 on H1 chart.
1️⃣ EUR declined amid the demand in USD.
2️⃣ German investor morale fell more than expected in November.
3️⃣ Investors remain concerned about rising COVID-19 cases and new lockdowns across Europe.
USD - BULLISH
1️⃣ Expectations the Fed will not need to leave rates at record low for so long and hopes of a faster economic recovery in the US if a coronavirus vaccine is available soon.
2️⃣ Cleveland Federal Reserve Bank President Loretta Mester said the emergency lending programs the Fed set up during the coronavirus pandemic are still needed.
3️⃣ Prospects of a divided Congress which will prevent a big change in current status quo including taxes and regulation also supported USD upward trend.
=====
Technical
=====
We are looking to sell EURUSD at SBR level + near SMA 50 on H1 chart.