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10.11.202211:41 Forex Analysis & Reviews: Trading plan for EUR/USD and GBP/USD on November 10

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

Dollar has fallen in price early this week, so a rebound could happen any time. Moreover, the pressure was caused by the uncertainty over the results of the US midterm elections, so as soon as it becomes clear that the Democrats are gaining control over the Senate, the dollar will begin to rise actively.

Although the vote count is still ongoing, everything is pointing to the fact that the Democrats will take the Senate, while the Republicans will take the House of Representatives. Previously, many assumed that Republicans will win a crushing victory and gain control of both houses of Congress.

So, the dollar has a high chance of rising today, especially after the release of the October inflation data in the US. But even if consumer price growth is likely to slow from 8.2% to 8.1%, the Fed will continue to raise rates. Firstly because inflation is still extremely high, and secondly because consumer prices should rise by 0.5% m/m. In other words, prices will not only rise, but there may also be an acceleration of growth, which will force the Fed to continue its extremely tight monetary policy.

Inflation (United States):

Exchange Rates 10.11.2022 analysis

EUR/USD bounced back after hitting a local high in October. At the moment, the level of 1.0000 serves as a support, relative to which the current pullback has slowed down. If the parity level plays the role of support, then there may be another attempt to break through the October high. Otherwise, short positions will surge in the market.

Exchange Rates 10.11.2022 analysis

GBP/USD lost about 200 points and returned below 1.1400, which indicates a change in trading interests. However, there is a chance of rising above 1.1410 today, which will prompt a new wave of growth in the market.

Mark Bom
Analytical expert of InstaForex
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