Tuesday, September 27, 2016

EUR/USD Lower After The Presidential Debate

EUR/USD reacted somehow bearish to the presidential debate hosted yesterday. This is normal, considering the grandiose change that will come to pass in less than a few weeks. The debate was focused on bringing back jobs, prosperity, growth and rising incomes. Improving the economy and the optimistic outlook of both of the candidates boosted only slightly the US dollar.

EUR/USD went from a high of 1.1280 to a low of 1.1239. Price has stabilized and is currently gravitating towards 1.1242. If the current momentum keeps going, bears will drive price down to a possible first target at 1.1150. If bulls turn the tide, first major target is seen at 1.1310.

As to the debate, Mr Trump and Mrs Clinton did not give enough incentives to the market participants in their first debate. Two more debates yet to come.

Chart: EUR/USD H4


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6 comments:

  1. UnknownSeptember 27, 2016 at 10:59 AM

    Thank you for the analysis very helpful.

    ReplyDelete
  2. UnknownSeptember 27, 2016 at 12:39 PM

    Volatility will likely increase as the election day draws near.

    ReplyDelete
  3. UnknownSeptember 27, 2016 at 7:04 PM

    Good point! I´ll be watching to those levels.

    ReplyDelete
  4. UnknownSeptember 27, 2016 at 8:33 PM

    Sideways consolidation continues for the moment.

    ReplyDelete
  5. UnknownOctober 5, 2016 at 5:58 AM

    Euro recovers some ground.

    ReplyDelete
  6. UnknownOctober 14, 2016 at 10:10 PM

    Thanks for such an informative article.

    ReplyDelete

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