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29.10.202015:19 Forex Analysis & Reviews: Evening review of EURUSD on October 29, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 29.10.2020 analysis

Strong US data: The US GDP for the third quarter gains 33% after falling 30% in the second quarter. The GDP deflator also went up at 3.8%.

The country's long-term unemployment fell by another 700,000. That is, from 8.4 million to 7.7 million.

Meanwhile, as observed, the euro managed an upward reversal, thus, purchases can be considered from 1.1760 with a stop at 1.1715.

The ECB meeting is scheduled today at 13:30 UTC, where we expect a speech from the head of the regulator, Christine Lagarde.

Jozef Kovach
Analytical expert of InstaForex
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