{"id":68856,"date":"2024-11-05T13:10:31","date_gmt":"2024-11-05T02:10:31","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=68856"},"modified":"2024-11-05T13:10:33","modified_gmt":"2024-11-05T02:10:33","slug":"trade-the-euro-on-the-us-elections","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/trade-the-euro-on-the-us-elections\/","title":{"rendered":"Trade the Euro on the US Elections"},"content":{"rendered":"\n

FX traders are preparing for potentially the most volatile sessions of the year in the days ahead as the results of the US election filter through to the market and set fresh trends for the months to come. Given the anticipated volatility, many traders will be looking to trade the dollar in the most liquid pairs, enabling them to enter and exit positions effectively. The EUR\/USD is by far the most liquid currency pair and should provide some of the best trading conditions in what is expected to be a whippy environment over the next few days.<\/p>\n\n\n\n

The Euro has traded in relatively good ranges in line with dollar sentiment over the last few weeks. It appreciated at the start of October alongside a weaker dollar and an anticipated more dovish Fed but has since dropped due to a stronger greenback and inflationary concerns associated with the election and a possible Trump victory. Traders will likely sell the Euro on any signs of a Trump win and buy it if the Democrats appear to be gaining control. Short-term support now sits at recent highs on the hourly chart, with additional support about 40 pips lower; both levels are expected to break in the coming sessions. The longer-term support level is near the month\u2019s lows and appears to be at greater risk, but traders will aim to remain nimble and flexible as they capitalize on any updates moving forward.<\/p>\n\n\n\n

Resistance 2:<\/strong> 1.1163 \u2013 Trendline Resistance
Resistance 1:<\/strong> 1.0914 \u2013 Trendline Resistance and November High
Support 1:<\/strong> 1.0837 \u2013 200-Day Moving Average
Support 2:<\/strong> 1.0780 \u2013 Trendline Support<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

FX traders are preparing for potentially the most volatile sessions of […]<\/p>\n","protected":false},"author":1,"featured_media":68857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[462,489],"tags":[],"class_list":["post-68856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news","category-us-election"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t