EURUSD: the pair is close to falling – News & Analysis

The euro plunged under the effect of a generally stronger dollar, as well as the weakening of the pound and the Canadian dollar, which drove the market down.

Today, the euro has risen from 1.139 to 1.1316. The pound fell to 1.2958. This decline came after UK's London minister Jo Johnson resigned from office, saying he could not support the government's agreement on Brexit.

News of the day (GMT + 3):

12:00 Euro zone: speech by Vice President of the ECB, Luis de Guindos.
22:30: Daly, member of the FOMC.
24 hours a day: veterans day.

12.11.18_EURUSD_H1_5be935cf7bac4.png "class =" ipsImage "height =" 539 "src =" https://alpari.com/data/media/cms/images/12.11.18_EURUSD_H1_5be935cf7bac4.png "width =" 604 "/><br />Fig. 1. EURUSD daily chart.
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<strong>Current situation:</strong>
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<p>On Monday, the dollar continued its upward trajectory against major currencies, including the euro. The pound sterling drops and drives all other currencies down. The dollar is supported by expectations of new interest rate hikes.
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<p>The EURUSD fell to 1.1269 today. I showed the daily chart above to give you a better idea of ​​the bigger picture. The trend line was broken on October 24th. The bulls have tried, and failed, to bring the rate down to this level. Instead, the rate has fallen to 1.1268 and is currently around the lower line of the B-B channel.
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<p>The forex calendar is virtually empty today. There is a small chance of a rebound of the line. If we consider the situation as a whole, the euro seems about to fall to 1.1050. 1.1160 will provide some intermediate resistance.<br /> 
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