EURUSD Fundamental Analysis


The EURUSD is moving higher based on the dollar's weakness. What next do we expect? Find out with the 10 November EURUSD Fundamental Analysis.

10 November, OctaFX –The EUR/USD pair has been volatile while the trading session was on for the first time this week as the dollar fell all across the board on Thursday. The 1.16 level continues to draw a lot of attention. Since the beginning of the week, the only story that has a bearing in the markets ever has been the tax reform bill which Trump and his organization have been trying to execute.

Though there has been sufficient support for the bill, the implementation was the opener as there were statements that the corporate tax cut plan, which is part of the reform bill and would linger for a year. This report turned out to be genuine as the plan was unveiled and it indeed turned out that the corporate tax cut would be delayed by a year.

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10 November EURUSD Fundamental Analysis

The euro regained momentum on Thursday, notching its highest level of the week as the dollar nosedived against a basket of world currencies. The EUR/USD exchange rate was last seen trading at 1.1649, where it was up 0.1% on the previous close.

At the time of writing, the pair faces immediate support at 1.1620. The common currency is expected to remain well supported above this level. On the opposite side of the spectrum, immediate resistance is likely found at 1.1660.

10 November EURUSD Fundamental Analysis

Disclaimer

This article about 10 November EURUSD Fundamental Analysis should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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