FX.co ★ Forecasts for EUR/USD on November 3, 2020

EUR/USD

The euro traded in a 34-point range on Monday, awaiting election day for the US president, below the technical level of 1.1650. The first election results will be announced tomorrow morning, therefore, we expect the euro to fall to 1.1495. The intermediate level is close to the current price - 1.1590. The technical situation continues to decline.

The Marlin oscillator is briskly rising against the background of a falling price on the four-hour chart, which means the indicator is discharging and returning from the oversold zone before it declines further. So, the first target of the euro is 1.1590, then 1.1495.