EUR / USD potential for 1.20000

Looking at the EUR / USD chart to move to 1.20000, it must pass a large resistance to 1.18500. We have support for all 3 indicators MA 9.50.200. EUR / USD rose amid hopes for a US fiscal stimulus that is likely to be delayed after the US election. As coronavirus cases grow in the eurozone, Brexit and political uncertainty are holding back the currency pair.
“Christine Lagarde, President of the European Central Bank, has expressed concern about the slowdown in this second wave of coronavirus. The ECB will announce its decision next week and new measures are not yet expected. However, additional statistics on COVID-19 and news locking could encourage the institution It is worth mentioning that the president of the American House, Nancy Pelosi, said on Sunday that the laws on a wide package of help from coronavirus could be applied before the elections on November 3.
However, investors are still not convinced that an agreement will be reached with the Republicans before Pelosi self-installs on Tuesday. This is happening amid growing concerns about the risk of a controversial U.S. election outcome and retains the latest optimism. Investors also remain concerned that a sharp rise in coronavirus cases could trigger new locking measures and prove detrimental to the already fragile global economic recovery. Both currencies have pressure on their backs; let us look carefully at 1.18500 as the crucial point of this pair; otherwise, we descend to 1.16000.