WHAT’S HAPPENING IN THE FOREX MARKET?

Overall, the USD Index has struggled since Monday’s bullish run. It managed to breakout and stay above the 92.94 but still lacks that momentum. 93.40 would definitely be a good place for resistance on the Index.

Lots of data coming out today with a few speeches by the ECB President, BOE Gov, US Fed Chair, expect possible volatility in the market.

Gold still hovering around this week’s lows and showing signs of weakness but we need further clues from the USD. The USD will be a determining factor for the safe haven metal as if USD drops then Xau should appreciate and vice versa.

Brexit talks still in the news and seems might extend past the Nov 15th deadline.

November 12, 2020

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