Rimani 
Condizioni di trading
Strumenti
The issue regarding the impact of COVID-19 wil continue in the markets and force investors not to forget about it, that is, if the US election is ignored after the unremarkable debate, which did not lead to a clear victory for any presidential candidate based on the experts.
Market participants are forced again to monitor this topic due to recent reports that COVID-19 is worsening in the US and Europe, with its new record of coronavirus cases. As a result, it pushes the glimpse of the global economic recovery, which forces investors again to think about whether to believe them.
On another note, the stock markets are showing a completely developed sideways dynamics, which was forecasted last month. It assesses the unpredicted results of the US presidential elections, the lack of a vaccine ready for production in the West against COVID-19, as well as the unclear quarterly reporting of companies, which is a direct consequence of the situation with COVID-19.
Same outlook can be seen in the currency markets – major currency pairs are consolidating in sideways ranges. After rising at the beginning of last week, the EUR/USD pair moved into a period of consolidation in the wake of a fall in demand for risky assets of the Brexit recovery. However, it is still unknown when will this end. But the dynamics of the GBP/USD pair suggest that the resolution of this situation in any of its variants, with or without an agreement between Brussels and London, may serve as a basis for the pair's growth, since the most important negative factor for it in recent years has been the uncertainty factor of Brexit result.
Meanwhile, the Japanese yen also began to consolidate, after strongly rising against the US dollar last week. Thus, this fully indicates that the markets have taken a wait-and-see position in order to observe how the presidential race in the US will end and what will be the consequences of the second wave of COVID-19.
Commodity and raw currencies also fully reflect everything that happens in the financial markets with their movements against the dollar.
Assessing the general situation, we believe that the markets' current behavior will continue this week.
Forecast of the day:
The AUD/USD pair is declining due to the lack of strong factors for the growth of commodity assets' demand. Thus, we believe that the price will continue to decline the level of 0.7100 and will further lead to 0.7025.
The NZD/USD pair is in a short-term upward trend, but at the same time, it is experiencing problems with further growth in the wake of the falling demand for global commodity assets amid low economic activity in countries due to the impact of COVID-19.
We believe that if the price drops below the level of 0.6670, the pair will continue to decline to the level of 0.6600.
Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.
