The dollar edged higher in early European trade Thursday on safe haven inflows as coronavirus cases continue to mount and the idea of pre-election stimulus in the U.S. is officially consigned to the trash.

Overall the EURUSD market is bearish and after close selloff puts trade into a bear stance, positioned for declines to test under 1.1700. A close under 1.1700 warns for a wash towards the September low (1.1612). Any congestion trapped inside yesterday’s range will remain aligned for selloffs.

R2          1.1782
R1          1.1764

S1          1.1721
S2          1.1701