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Full one month the Dollar is in losing position

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  • Full one month the Dollar is in losing position

    Since the start of November 2nd the first business day of the month the dollar is in losing position. On the first business day of the month EURUSD was trading at 1.1630. For one full month the dollar loses 350 pips. It is slowly moving but constantly as today in the last day of November EURUSD is trading at 1.1982.
    Next month we are expecting confirmation from the U.S. Vote and if Biden is the new U.S. President, expect to see EURUSD till the end of the year at levels of 1.24-1.25.
    The other version if Trump succeeds with the supreme court and is the new president EURUSD till the end of year 2020 is expected at levels between 1.18 and 1.22.
    So in the first part of December hold a long position and expect EURUSD at 1.2150.

  • #2
    That's why you have to invest money in something. Because of this unstable situation on the currency market, it's time to think now about what it is better to invest in.
    Over the past few years, investors have identified the following promising sectors for investment: artificial intelligence, big data, automation (in a variety of areas), digital health, virtual reality, fintech, blockchain, and others. During the pandemic, there has been even more interest in solutions that improve mental health.
    Looking at deals for 2020, there were investments in the areas of: e-commerce and delivery, marketplace, medical technology and healthcare. Among the startups invested in gaming, related remote work, and software development.
    The entry threshold is different for each investor, but in 2020 it became lower, and now it is possible to invest in those companies and projects that were previously overvalued.
    There is no universal/ideal investment term, everything depends on various external and internal factors and the specifics of the company's business.
    So while the situation is still more or less stable, it would be useful to already think about the future and about future investments.


    • #3
      This is not something I was looking forward to. Even so there has always been a chance that it is going to happen especially with the crisis the earth is in right now. Some people never actually realize that forex trading actually depends on the other physical markets as well. THere are the direct dependencies and then the indirect dependencies. We have to admit that there are more people trading USD than any other commodity. If it drops then there are going to be a lot of people affected and especially the beginners that major on it. Still we can expect it to rise because it will not be that way for a long time. If that happens then something is going to be wrong.


      • #4
        Yes, I agree with you and I think one of the reasons for this may be the Covid pandemic. Can't say anything about it now. I am working as a freelancer and I have a lot of work from many countries so I was facing the language problems to understand. But now read some tips at site and now I can easily translate any language and it helps me to complete my tasks very fast.


        • #5
          I actually enjoy such situation on the forex market because it is at least clear which event drives the prices. For me, it is extremely hard to do fundamental analysis in forex market because there are so many different factors which may affect the price movements. It is much simplier to do fundamental analysis in stock market because it is clear which company to follow, and how those events affect the price of the asset. As for currencies, there are so many political events which take place every day, and it is really hard to determine whether the price will react to them.
          Speaking of presidential elections, that is one of the greatest chance to try fundamental analysis if you trade forex. At least, there are some metrics which clearly affect the prices. However, everything might happen even in this situation. There still can be some other events like OPEC decisions on this or that question which will trigger the oil prices and the currencies of some countries.