EUR/USD Consolidating Ahead of US Election

EUR/USD is consolidating today ahead of the US Presidential Election. Less than 10 hours left until the United States are officially into the Election night. Market participants are awaiting the results at the end of the Election day when it would be clear which one of the two candidates - either Donald Trump or Hillary Clinton would lead the way to the next four years of politics, economy and social welfare of the USA.

EUR/USD is not doing anything interesting so far today with price gravitating towards 1.1050 - a level that would most likely remain until the results come out. Have in mind that if Donald Trump wins, markets have a higher chance of high unpredicted volatility than if Hillary Clinton won the election.

Today's strategy would be to preserve your capital as risk remains high and heavy positions are not advisable due to the unpredictable consequences of the election on the market.

Chart: EUR/USD H4