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Sunday, November 27, 2022

EUR/USD Forecast: The Pair is back to the 1.18300 zone

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U.S. dollar and euro, EUR/USD

EUR/USD Forecast: The Pair is back to the 1.18300 zone

Today, the whole of Italy has become a “white zone,” which means that the danger of infection with covid-19 is minimal and that the restrictive measures are abolished, writes the Ansa agency.

The only exception is the northern province of Valle d’Aosta, which is still in the so-called “yellow zone” regime this week, which means that mild restrictive measures will remain in force for another seven days. The curfew, which was in force from 11 pm to 5 am the next day, is being abolished throughout the country.

Last year, Italy introduced a way of describing the epidemiological situation in color zones, where red indicates the highest risk of infection and the strictest restriction measures. The white zone abolishes anti-covid measures.

At today’s session, the government’s Scientific and Technical Committee will decide to abolish the obligation to wear protective masks outdoors next week.

But the citizens are impatient, and already, on the streets, many can be seen wearing masks around their necks, ready in case of control, and not as prescribed over the face.

The recommendation to avoid large gatherings remains in force. Still, the Romans ignored it, so yesterday, due to the mass of the world in certain city squares, the police restricted access by setting up a protective fence.

In Austria, for the first time since August 10 last year, the daily number of newly infected fell below 100. According to official data, 94 new cases of coronavirus infection were registered in the past 24 hours, and there were no deaths. “We have made a huge step. For the first time since August 10, we have less than 100 newly infected people. That shows how well the situation is developing,” said Chancellor Sebastian Kurz. He pointed out that seasonal effects and vaccinations are visible. “My appeal is that whoever is still considering whether to be vaccinated decides in favor of the vaccine. Infections will grow again in the fall at the latest, and that is why we should protect ourselves as much as possible,” said Kurz.

Plans for the third autumn dose of the anti-covid vaccine will be known in the next few weeks, the Minister of Health of Great Britain, Matt Hancock, stated today. The Minister of Health of Great Britain said that the government is waiting for the results of combining vaccines, the BBC reported.

Experts from the Public Health Service (NHS) and well-known British doctors said planning for a vaccination with the third booster dose must begin immediately because “bigger challenges will arise.” Experts say a number of questions need to be answered, including how long immunity lasts to the original coronavirus vaccines.

So far, close to 60 percent of British adults have received two doses of the vaccine, meaning they have been fully vaccinated, and more than 80 percent have received at least one dose.

On the daily time frame, we see that the euro has so far consolidated on the bottom trend line in the zone around 1.18300. We further follow the graph to see if it will climb above the moving average of the MA200 in the zone around 1.20000. Otherwise, the negative consolidation drops us below the support line, and then we can expect a drop to the previous low to 1.17000.

The post EUR/USD Forecast: The Pair is back to the 1.18300 zone appeared first on FinanceBrokerage.

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