The main focus of this morning's Asian session trade was on the presidential debate event between Donald Trump and Joe Biden. Market movements are expected to be affected based on the debate and after the debate ends.
Investors are likely to be more cautious in controlling risk and it is expected that the US dollar will move weaker in today's trading.
The depreciation of the US dollar will make room for the major currencies to be traded up again.
The Euro returned stable to its 1-week high, giving the impression that the European currency will continue to rise higher.
On the price chart for the EUR / USD pair yesterday, the price has recorded a daily rise of around 80 pips following the rise earlier in the week.
Prices moving above the Moving Average 50 (MA50) barrier level over the 1 hour time frame have given an early signal of a bullish trend change. Adding to these expectations after the price has passed the rise in the SBR zone (support become resistance) 1.17200.
With the US dollar expected to weaken further due to political factors and concerns ahead of the US NFP employment report focus data, the price on the EUR / USD chart is likely to continue rising towards the focus zone around 1.18000.
However, if the price returns to lower below the 1.17200 zone, a lower decline is expected to return to the 1.16100 support zone.
