The dollar index is declining amid Pfizer's approval of a new COVID-19 drug?

From a technical point of view, the EUR/USD on the hour time frame is still bearish. The price is trading in a wide corridor. Against the background of a sharp strengthening of the dollar index on Friday, the EUR/USD quotes fell sharply.

With a few carefully selected "best of breed" companies from each of these resource sub-sectors, you can keep from being worn out or shaken out during the inevitable retracements, while harvesting big profits from their evolving bull market runs.

On Thursday, the USD/CAD price continued to move higher after the Bank of Canada broke out of the 1.2600 area and gained some momentum.

Separately, China reported that lending slowed sharply in October, and this may spur a policy response in a way that the inflation readings may not.

Confluence trading is a combination of two or more trading strategies/techniques that come together and form a high probability buy/sell zone in a certain area in the market.