The number of retail sales in supermarkets in the United States fell sharply from 1.6 percent to 0.3 percent today, according to economists. Most retail sales fell by just 0.5 percent.

It should also be recalled that the decline was due to the fact that the government subsidy for the unemployed will be gradually cut off, resulting in a reduction in spending. Covid19 cases in the United States are in dire straits, with more than 160,000 more infected since the beginning of the month, bringing the total to more than 11 million.

On Nov. 16, data on the New York City Industrial Index reported that the trend of factors of production is likely to decline in the near future, according to the index, production, which was surveyed last month, was 17, while this month’s survey dropped to 6.3 due to declining orders and shipment. Less level.

In addition, if you look at the future price index of raw materials and finished products from the factory, there is likely to be a continuous price increase this month and beyond. The capital expenditure index for capital and technology has risen to 18, making production costs higher.

Pivot Point: 1.18700

R1: 1.18900                S1: 1.18300

R2: 1.19200                S2: 1.18100

R3: 1.19400                S3: 1.17800

Today forecast, investor should make a long position in product EURUSDx at current price of 1.18600 by setting take profit at 1.19000 and stop loss at 1.17900.

Analyzed by: Mr. Long Samnang,Independent Analyst