The currency pair EUR/USD has not been very volatile despite ongoing US elections. It is possible that this is the result of the election forecasts coming true. The market expected that Congress authorities will change and so it happened, although Trump is probably not very excited about it. When it comes to the Ruble, the situation is obvious, as well. So, let’s wait and see what’s going to happen next.
Single currency managed to pull back from the level of 1.1300 and is now approaching the downtrend. Away from this descending channel it will most likely pull back down. This pullback will initiate triangle formation:
Based on the reports provided by COT CFTC, large operators keep pushing the net long position (Long-Short) to the negative zone, thus confirming to the bearish plan described above:
The rate of the Australian currency broke the daily channel therefore it should pull back to the broken downtrend and then jump up very soon:
American index S&P500 sharply pulled back from the uptrend and is now approaching the broken ascending channel that was already tested before. This channel can provide resistance that will reverse the asset’s price down:
Please note that this material is provided for informational purposes only and should not be considered as investment advice. Trading in the financial markets is very risky.