First, a review of last week’s events:

EUR/USD 

Recall that, when giving the last week’s forecast, 60% of experts had expected the euro to grow to the zone 1.1480-1.1525, and turned out to be 100% right: by Wednesday November 7, the pair had risen to the height of 1.1500. The remaining 40% of analysts had suggested that the pair would still go down and re-test support for 1.1300 against the background of weak economic indicators of the Eurozone and problems with the Italian budget. This script has also been implemented.

On Thursday, November 8, the euro began to decline after the report of the European Commission, which lowered its GDP forecast for 2019 from 2.0% to 1.9%. A further fall in the euro and a strengthening of the dollar was facilitated by a press release from the US Federal Reserve, which showed that the US currency was expecting another increase in the interest rate until the end of 2018. As a result, the dollar has won back 175 points from the euro, groping for a local bottom at the level of 1.1325, followed by a slight rebound, and as a result, the pair froze at 1.1335;

GBP/USD

The situation with the British pound was similar to the euro last week. Supported by graphical analysis and almost 90% of oscillators and trend indicators on H4, 40% of experts had voted for the continuation of the pair’s growth to 1.3100-1.3220, and on November 7, the pair reached the height of 1.3173. This was followed by a reversal, and, as the bears’ supporters had proposed, the pair rushed down to reach the support at the level of 1.2955 on Friday, pushed by the US Federal Reserve comments. It met the end of the weekly session in the zone 1.2970;

USD/JPY

The dollar strengthened towards the Japanese currency as well. However, the pair did not manage to overcome the key resistance level of 1.1400, and finally finished the week at 113.80, demonstrating a weekly gain of only 60 points;

Cryptocurrencies

It turns out that the mid-term elections held in the US can be viewed not only as a struggle of Republicans and Democrats, but also as a fight between supporters and opponents of cryptocurrencies. And, judging by the comments, the blockchain supporters won in a number of states. The positive background is complemented by the information that the major American digital companies are actively and successfully creating lobbies to promote their interests in the Senate, Congress and the US government.