Trump Wins and EUR/USD Reacts

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.