OliverCromwell
New Member
Forex Forecast and Cryptocurrencies Forecast for October 26 - 30, 2020
As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
- EUR/USD. If you follow the textbooks on fundamental analysis, macroeconomic statistics is of basic, fundamental importance. However, there was no coronavirus pandemic when these books were written. And now it's here. And it is capable of destroying any predictions.
On the one hand, the incidence schedule in Europe is bursting upward, Germany and France set a new "anti-record" for the number of infected people on Thursday, October 22. Spain has become the first European country to see the number of people falling ill above 1m, putting pressure on the euro. But COVID-19 has hit supply as well as demand.
The situation is similar in the US. The number of coronavirus patients is approaching record levels. But at the same time, the country's authorities do not want to introduce new quarantine restrictions in order to support economic activity. Much, including the mood of the markets, depends on the outcome of the US presidential election on November 3.
According to Deutsche Bank, Morgan Stanley and JP Morgan, Democrat Joe Biden's victory will reduce the likelihood of a new wave of protectionist US policies and allow the pair to reach the 1.2000 mark. If Donald Trump wins again, the dollar, in anticipation of a new round of trade war, is likely to go into growth, and the EUR/USD pair will fall to the lows of September in the 1.1600 zone.
In the meantime, despite the fact that Biden's ratings are higher, investors are in no hurry to get rid of the dollar, because they remember how, unexpectedly for many, Donald Trump became the resident of the White House in 2016. And this can happen again.
As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
- EUR/USD. If you follow the textbooks on fundamental analysis, macroeconomic statistics is of basic, fundamental importance. However, there was no coronavirus pandemic when these books were written. And now it's here. And it is capable of destroying any predictions.
On the one hand, the incidence schedule in Europe is bursting upward, Germany and France set a new "anti-record" for the number of infected people on Thursday, October 22. Spain has become the first European country to see the number of people falling ill above 1m, putting pressure on the euro. But COVID-19 has hit supply as well as demand.
The situation is similar in the US. The number of coronavirus patients is approaching record levels. But at the same time, the country's authorities do not want to introduce new quarantine restrictions in order to support economic activity. Much, including the mood of the markets, depends on the outcome of the US presidential election on November 3.
According to Deutsche Bank, Morgan Stanley and JP Morgan, Democrat Joe Biden's victory will reduce the likelihood of a new wave of protectionist US policies and allow the pair to reach the 1.2000 mark. If Donald Trump wins again, the dollar, in anticipation of a new round of trade war, is likely to go into growth, and the EUR/USD pair will fall to the lows of September in the 1.1600 zone.
In the meantime, despite the fact that Biden's ratings are higher, investors are in no hurry to get rid of the dollar, because they remember how, unexpectedly for many, Donald Trump became the resident of the White House in 2016. And this can happen again.
