EURUSD: the pair is close to the downside – News and analysis

The euro sank on the back of a broadly stronger dollar, along with a weakening of the pound and Canadian dollar, which dragged the market down.

Today, the euro fell from 1.1369 to 1.1316. The British pound has fallen to 1.2958. This fall came after reports of the resignation of the UK Minister for London Jo Johnson, who left his post and said he can not support the government's Brexit agreement.

News of the day (GMT + 3):

12:00 Eurozone: speech by ECB Vice President Luis de Guindos.
22:30 EE. US: speech by the FOMC member in Daly.
24 hours in the United States: Veterans Day.

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Figure 1. Daily EURUSD chart.

Current situation:

On Monday, the dollar continued its upward trajectory against majors, including the euro. The pound falls and drags all other currencies down. The dollar is being propped up by expectations of higher interest rate hikes.

The EURUSD has fallen to 1.1269 today. I have shown the previous daily chart so you have a better idea of ​​the big picture. The trend line broke on October 24. The bulls tried, and failed, to recover the rate at this level. In contrast, the rate fell to 1.1268, and is currently around the bottom line of channel B-B.

The currency calendar is practically empty today. There is a small chance of a bounce of the line. If we look at the big picture, the euro seems ready to fall to 1.1050. 1.1160 will provide some intermediate resistance.