EUR/USD - Review from 05.11.2024

Financial and commodity markets analytics


During the local ascending trend, the market encountered resistance around the previously described mark of 1.0900. Considering the upcoming US presidential election and the Federal Reserve's decision regarding the key rate, today's markets are characterized by an extremely high level of uncertainty. The significant information appearing in the near future in the information field can provoke poorly predictable movements and a rise in volatility. The local price maximums and minimums could serve as references for trading conditions. Significant zones below the current prices are: the local minimum zone of 1.0780 and the range of 1.0670-1.0740. In the case of growth, the area around the mark of 1.1000 might be of interest.