US Federal Reserve Chairman Jerome Powell said on September 22, 2020 that the US economy is growing steadily, but is likely to take a long time to recover. Return to normal before COVID-19 began to appear in the United States.

He pointed to a number of indicators of growth, which are good positive signs for the dollar, including: the industrial index rose from 54 to 56; Unemployment fell from 10.2 percent to 8.4 percent; The finished goods price index fell from 0.6 percent to 0.3 percent, easing the price of goods sold to consumers to buy cheaper goods during COVID-19 crisis.

According to the graph above, the blue moving average, which represents 50 days, is higher than the 20-day moving average, indicating that the dollar will continue to fall on the day. In the future, however, in the current situation, the value of the dollar will continue to rise compared to the value of the euro.

Pivot Point:1.17200

R1: 1.17500                 S1: 1.16700

R2: 1.18000                 S2: 1.16400

R3: 1.18300                 S3: 1.15900

Today forecast, investor should make a short position in product EURUSDx at current price of 1.17300 by setting take profit at 1.6600 and stop loss at 1.18000.

Analyzed by: Mr. Long Samnang,Independent Analyst