USD uncertainty follows mid-term elections

USDollar

The above chart shows daily price action. The USDOLLAR has charted a higher trough followed by a higher peak. This is a defined uptrend. The question is if the buck is charting another higher trough in the series or a new lower trough to break the trend? If the USDOLLAR drops below the red horizontal it will chart a lower trough, effectively negating the uptrend as per peak and trough analysis. Yesterday’s candle is a spinning top – a day of indecision. This is likely due to market participants assessing the results of the US mid-term elections.

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