Currency market review October 15, 2019

What do we see in the foreign exchange market?

The Fed plans to turn on the printing press, as well as invest in national stock markets. The economy is gradually overheating and the US needs a cheaper dollar 🇺🇸

Therefore, one should not be surprised at the gradual decline in the US dollar against the currencies of developed and developing countries. The likely decline will not be sharp, but medium-term, deterrent.

Technically, the dollar is strong, but as mentioned earlier, a strong dollar is not profitable for the US at the moment.

Last week helped buyers of the euro 🇪🇺 seize the initiative on the market, thereby breaking the medium-term downtrend.

As you know, after the breakdown of a significant area, the price performs a reverse test.
We are seeing a decline to a key level, which now acts as support.

In this area, we are waiting for the resumption of the upward movement.

Brexit is coming. What it will be is still not clear.

This combination of circumstances warms up the market uncertainty over the pound 🇬🇧 and the enormous growth of the past week can easily be crossed out in one sentence in the British Parliament.

Within the framework of this week, increased volatility and panic in the market are expected.