Forex and Cryptocurrency Forecast for July 13 – 17, 2020

First, a review of last week’s events: – EUR/USD . The dollar is slowly weakening, the pair moved above Pivot Point 1.1240 last week, but is still within the five-week channel 1.1170-1.1350. As expected by 25% of experts, the bulls made an attempt to reach the level of 1.1400, but their attack  choked quickly, and, turning at the height of 1.1370, the pair went down again, ending the five-day period in the 1.1300 zone. The pressure on the American currency is explained by the improvement in the economic situation in a number of countries, including the EU. Enterprises have started working there, demand is recovering, buyers are returning to stores, unlike the United States, where even Fed officials doubt the ability of the economy to recover quickly. Thus, FOMC members Rosengren and Barkin noted that, having fulfilled the old orders, the industry has so far not received new ones. And this could lead to further printing of dollars and an increase in the quantitative easing (QE) pro