EUR/USD has been advancing above 1.19 amid vaccine and political optimism. A busy day on the data front is set to determine the next moves. Wednesday's four-hour chart is pointing to critical resistance.
Topics in Depth
Gold is trading quite close to the widely-followed 200-day Simple Moving Average (SMA) of $1,797. The safe-haven metal is about to test the long-term SMA for the first time since March. A break below that support cannot be ruled out.
Black Friday 2020 Discounts!
Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN. The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post from ABC: ABC News can characterize Joe Biden as the apparent winner in Pennsylvania — a win that makes him president-elect.
A winner has yet to be declared in the 2020 Elections, which have turned into a nail-biter. Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss the results, the reaction in financial markets, and discuss what's next. High volatility is set to prevail.
"A cycle is a recognizable price pattern or movement that occurs with regularity in a specific time period"
"Advisory Opinion, comprised of arguments and trade ideas which have been committed to publication and therefore have an influence on the trading public,
"Have you ever read news updates mentioning Elliott Wave yet you don’t have a clue what these mean for the Forex?"
"Support and Resistance Lines conform the most basic analytical tools and are commonly used as visual markers to trace levels where the price..."