Pair closed last week’s trading unchanged after markets had fully priced in the US election result. News of a 90% success in Pfizer COVID-19 vaccine was very well welcomed by markets and kept investors away from the safe-haven US Dollar. On the other hand, ECB President Christine Lagarde’s comments were taken a dovish for Euro and this resulted in EURUSD parity to remain unchanged. Pfizer’s vaccine might be a relief for markets although the German Finance minister and French President maintain a cautious stance with ECB’s Christine Lagarde to call for additional fiscal and monetary support.

Going into this week traders will focus on COVID-19 new cases and lockdowns in a governments’ efforts to control the second wave of covid breakout and G20 meeting.

On the economic calendar we have on Tuesday, US Retail sales with expectation to be lower at 0.5% On Wednesday, European consumer price index expected unchanged at 0.2% On Friday German producer price index expected lower at 0.1% and European consumer confidence negative at -17.6

Technically, the picture is neutral. Pair traded unchanged and close at 1.1832 just below 161.8%. In this week’s trading session if the pair trades on the upside and close above 161.8% gains will be accelerating and retest 1.2000 Alternative a break and close below 161.8% pair may resume downside and retest 1.1600 Our traders keeping open all their short positions targeting profits at 1.1600 If pair retreat lower we are expecting buyers to appear at 1.1600 and many short positions to take profit below 1.1700




Pair closed unchanged last week’s trading session amid both US Dollar’s and Pound’s weakness. On the one hand, the US Dollar weakened on Pfizer’s covid vaccine new and on the other hand GBP weakened on political uncertainty and chaos over Brexit uncertainty while the deadline is approaching. Boris Johnson’s adviser Dominic Cummings stepped down last week. Cumming was well new as hard Brexiter and hard influencer in PM Boris’ decisions. In addition to political uncertainty, UK is strangling to control covid second wave.

As for this week, traders will focus on who will replace Cumming and how the new person will succeed to lock a trade deal between EU and UK before the deadline. So once again Brexit talks outcome will be the main actor behind any move on this pair. In addition, trades must closely monitor BOE’s officials’ speeches including Governor Baily’s speech on Tuesday.


In the economic calendar, we have on Wednesday, Consumer price index with expectations to be higher at 0.6% and retail price index higher at 1.3% On Friday, retail sales expected lower at 0.3%


Technically the pair is neutral after last week’s mixed signals. In this week’s trading session if pair continues on the upside, traders are expecting as next level 1.3314 Alternative if pair resume downside, first level to be retested is 1.2853 Our traders keeping open short positions at 1.3000 and 1.3140 targeting profits at 1.2700 We are expecting more aggressive short sellers to appear on the way up. Alternative if pair continues the downside short sellers will take profits and buyers will start to appear as from 1.2700 (61.8%)




For more detail economic calendar events please visit our live economic calendar on:

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