As it was
expected the results of the elections in the USA caused massive volatility on
the market. EUR/USD was no exception – I would even say that the effect on it
was one of the strongest that we saw today. The pair moved sharply with 260
pips to the upside, but after forming a doji candlestick on the one-hour
time-frame it retraced almost as quickly, eventually forming an impressive whipsaw.
While the results of this event were not as extreme as what Brexit did to the
GBP/USD pair, I am sure that the consequences of these election results will be
felt for a long time to come. We will definitely live in interesting times in
the next four years.
It was an unexpected victory.
ReplyDeleteParity seems much closer now!
ReplyDeleteBut lets visit 1.12993 first, before the big dive! :-)
Excellent market review!
ReplyDeleteCalm down quickly.
ReplyDelete