EUR/USD fell below 1.1690

EUR/USD fell below 1.1690

2020-11-02 • Updated

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Ichimoku Kinko Hyo

GBP/JPY: The GBP/JPY pair has just breached the cloud and confirmed a new bearish outlook. Further bearish momentum will push prices into lower ground.

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European Market View

  • EUR/USD currently below 1.1650. Everyone is waiting for the results of the US elections, and the direction of the EUR/USD will be determined them.  
  • In regards to the FOMC on Wednesday traders should not expect too much as the meeting falls too closely to the election.
  • Elsewhere, USD/TRY continues to climb to new highs. The Turkish lira has lost 29% since the beginning of the year being the second worst performing currency after the Brazilian Real.

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