Sell EURUSD Ahead of Election

7 בנוב׳ 2016

I am switching my USDOLLAR bias from bearish to bullish for now. As we know November is a seasonably bullish USDOLLAR month especially against the Euro. The USDOLLAR Index has support right now and we're seeing gold sell off from the major $1300 area, which agrees with this. Clinton is currently leading the polls and odds are showing a pretty surefire win, which makes sense as to why we're seeing the dollar run up as well as equities. From a technical perspective the EURUSD retested the 1.115 area, which was previous support and then just shy of the retest of the trendline. Afterwards we gapped down and now we're forming a pin bar. I am looking to sell targeting 1.085 then we will look for targets lower from there. I know it may seem like a risky trade with the elections, but I think the odds are in your favor here.