The EUR/USD
has shown high volatility during the US presidential elections. On the daily
chart of the pair we can see a big spike that reaches the 1.1300 level. That
high was created when it was getting clear that Donald Trump was going to win
the elections. But the market seems to have gotten ahead of itself and the
price dropped back down to the 1.0900 level. By the way, the 1.0900 level has
been acting as a support, but a breakdown of that zone could take the pair to
the 1.0800. The range of the EUR/USD was 400 pips on yesterday’s candle,
causing the 1.1300 level to be the most important resistance so far. If the
volatility dries up, then the price may fluctuate between the 1.0900 level and
the 1.1100 level for a while.
High volatility.
ReplyDeleteIt will likely continue dropping.
ReplyDeleteI agree with your assessment.
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteGreat assessment!
ReplyDeleteVery useful, thank you!
ReplyDeleteVery interesting! Thanks!
ReplyDeleteDownside movements continue.
ReplyDelete