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EUR/USD Price Forecast – Euro Struggling at Same Level

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EUR/USD Price Forecast – Euro Struggling at Same Level

The Euro has rallied a bit during the trading session on Tuesday, reaching towards the 1.19 level yet again. This is an area that should continue to cause quite a bit of trouble, simply because it is a large, round, psychologically significant figure and of course an area that seems to extend towards the 1.20 level above, an area that is going to be crucial on longer-term charts. If we were to break above the 1.20 level, that would change things in a very drastic way. However, it is starting to show signs of exhaustion and failure, so I do think that it is likely the Euro pulls back a bit.

EUR/USD Video 16.09.20

To the downside, the 1.17 level underneath should be a massive support level, not only due to the fact that it has been in the past, but it is also where the 50 day EMA is currently trying to cross. Ultimately, if we were to break down below there then the Euro would more than likely collapse another 200 points. At the 1.15 level, I think there is even more support just waiting to happen, so pay attention to that level as well. With that, I believe that the entire uptrend would be threatened on a breakdown below that level.

However, if we were to break above the 1.20 level on a daily close, it is likely that the market would go looking towards the 1.25 handle. That is the longer-term target of a lot of fund managers, and therefore it is very likely that we could at least try to make it there, but this will require more noise coming out of the Federal Reserve.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Rep. Gaetz: I spoke with Florida attorney general, criminal probe may already be underway for Bloomberg

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Rep. Gaetz: I spoke with Florida attorney general, criminal probe may already be underway for Bloomberg

Florida Rep. Matt Gaetz says Mike Bloomberg may face a criminal probe for paying fines for felons in Florida; reaction from 'Outnumbered.'

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Gilead Settles US Kickback Allegations For $97M

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Yahoo Finance

Gilead Sciences, Inc (NASDAQ: GILD) has agreed to pay $97 million to settle allegations that it illegally paid for Medicare co-pays for its own pulmonary arterial hypertension drug Letairis through a charitable entity.What Happened: The Foster City, California-based drugmaker allegedly used a conduit foundation named Caring Voice Coalition (CVC) even though it was prohibited from doing so under the Anti-Kickback Statute, according to a statement issued by the U.S. Department of Justice."Gilead used CVC to cover the patients' co-pays in order to induce those patients' purchases of Letairis," the Justice Department claimed. "Gilead knew that the prices it set for Letairis otherwise could have posed a barrier to those purchases."The Justice Department also accused United Therapeutics Corporation (NASDAQ: UTHR) and privately-held Actelion of engaging in similar practices."Such conduct not only violates the anti-kickback statute, it also undermines the Medicare program's co-pay structure," said U.S. Attorney Andrew E. Lelling. Why It Matters: Prosecutors have collected over $1 billion from eleven pharmaceutical companies that include the likes of Pfizer Inc (NYSE: PFE), Sanofi (NASDAQ: SNY), and Novartis AG (NYSE: NVS). Gilead said it doesn't believe it violated the law, adding that there were no allegations made that patients who received the drug didn't need it, according to Reuters. Gilead's drug Remdesivir received emergency use authorization in early May for treatment of COVID-19 and the company's CEO claimed it has enough inventory to treat every hospitalized American.Last week, New York Governor Andrew Cuomo said the state had filed civil charges against Johnson & Johnson (NYSE: JNJ) in connection with understating risks posed by opioid drugs to elderly patients.Price Action: Gilead shares closed nearly 0.5% lower at $63.09 on Wednesday and fell 0.54% in the after-hours session.See more from Benzinga * Gilead's Remdesivir-Like Compound To Be Studied By NIH For Efficacy Against COVID-19 * Gilead Seeks Full FDA Approval Of Its Remdesivir Drug For Coronavirus(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Republicans sue Texas governor over expanded early voting

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Republicans sue Texas governor over expanded early voting

AUSTIN, Texas (AP) — Republican Gov. Greg Abbott, who has refused calls to expand mail-in voting in Texas during the coronavirus pandemic, was sued Wednesday by prominent members of his own party who now want to halt the biggest change he instead ordered for November’s election — extending early voting by a week.

The lawsuit escalates an extraordinary backlash Abbott is facing from the Texas GOP’s right wing that has criticized his handling of the pandemic as overbearing and unlawful. As Texas has now surpassed 15,000 deaths from COVID-19, anger among conservative activists has simmered for months over a statewide mask mandate and lockdown orders, including bars, which have been closed since June.

Previous challenges to Abbott’s orders were largely mounted by conservative activists, but the latest one filed straight to the Texas Supreme Court widens the list to seven GOP lawmakers as well as Allen West, a former Florida congressman who is the new chairman of the Texas Republican Party.

They argue Abbott did not have the power to put in place six additional days of early voting without input from the state Legislature, which is out of session this year and won’t meet again until January.

“Abbott’s Executive Orders are unprecedented and have had life and death implications, destroyed small businesses and family’s livelihoods, have had a crippling effect on every single community, and now have the ability to impact local, state and national elections,” the lawsuit stated.

An Abbott spokesman did not immediately return a request for comment.

Early in-person voting in Texas begins Oct. 13. Those extra days have not satisfied voting rights groups or Democrats in Texas, which is one of just five states not offering widespread mail-in balloting amid the coronavirus pandemic. President Donald Trump has railed against expanding mail-in voting, claiming without evidence that doing so would lead to widespread fraud, and his allies in America’s biggest red state have held the line.

Earlier this week, West released a statement suggesting without evidence that expanding voting access in any form in Texas would also invite fraud. “The more we expand the time, place, and manner that people can vote, the more opportunity there is for corruption,” West said. Voter fraud is exceedingly rare in the United States, with one analysis by the Brennan Center for Justice finding it only occurs in between .0003 and .0025 percent of all votes cast.

Asked last week why Texas hasn’t joined the list of states expanding mail-in voting — which now includes South Carolina, another red state — Abbott said lawmakers have previously decided the current rules are sufficient. “Those voting standards are thoughtfully arrived at, and have proven to be effective,” he said.

Democrats, whose prospects in Texas this year are the brightest in decades, criticized the lawsuit.

“We should be expanding early voting and vote by mail options, not cutting them,” Texas Democratic Party spokesman Abhi Rahman said. “We support voters having every opportunity to vote, and have been for those options the entirety of this pandemic — and the decades before that.”

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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