The EUR/USD pair forecast for November 09, 2020

The pandemic continues to take its toll worldwide. The U.S. set a record in reporting over 100,000 brand-new cases of coronavirus in a single day. Financial indications released last week were typically positive and showed that the most appropriate economies were far below pre-pandemic levels. The road to healing is sluggish, and with the latest figures on COVID-19, it appears it will take even longer

Technically, one must take care and monitor how the debt consolidation around 1.18700-1.19000 will happen. If the Euro increases, our very first target perhaps the previous high of 1.19200, and after that the next 1.20100.

The previous week, numerous European nations chose to close due to the sharp boost in the variety of new coronavirus cases and the aggravating epidemiological scenario. Amongst those who chose stricter procedures and curfew are Germany, Austria, Italy, France, Spain, Belgium, Great Britain, Greece, Croatia, Belarus, and Monaco.

Still, the sentiment of danger could soon go through a turn-around when the elections are officially decided or when the coronaviruss numbers and development return to the front line. Whenever elections are specified, the opportunities are high that the country will lastly get a second stimulus plan.

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European Central Bank (ECB) President Christine Lagarde has a speech today that will speak about the next steps the ECB will require to help the economy recuperate from coronavirus impacts.

The pandemic continues to take its toll internationally. The U.S. set a record in reporting over 100,000 brand-new cases of coronavirus in a single day. On Thursday, the world reported over 600,000 new infections and about 8,700 deaths.

. Get the latest economy news, trading news, and Forex news on Finance Brokerage.

It will probably not be able to stay there for long since the pressure is high. The American elections are not officially over yet, and financiers do not want to rush until everything is legal and verified.