{"id":97897,"date":"2016-11-08T07:30:10","date_gmt":"2016-11-08T12:30:10","guid":{"rendered":"http:\/\/countingpips.com\/?p=97897"},"modified":"2016-11-08T06:58:53","modified_gmt":"2016-11-08T11:58:53","slug":"eurusd-expected-revival-to-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/eurusd-expected-revival-to-balance-line\/","title":{"rendered":"EUR\/USD: expected revival to balance line"},"content":{"rendered":"
November 8, 2016<\/div>
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By\u00a0Gabriel Ojimadu, Alpari.com<\/strong><\/p>\n<\/div>\n<\/div>\n

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Previous:<\/em><\/strong><\/p>\n

On Monday the euro\/dollar fell from Friday\u2019s 1.1142 maximum by 115 points. The USD strengthened throughout the market since just a day before the elections, the FBI ceased their investigations into Hillary Clinton. This unexpected decision allowed the dollar to shoot up and Hillary shot forward in the polls. A survey from Bloomberg puts Clinton ahead with 44% of the votes, whilst Trump is with 41%.<\/p>\n

The growth of the US stock markets also was down to the likelihood that Clinton is set to be president. The Dow Jones rose 2.08% to 18259.60 points, whilst the NASDAQ rose by 2.38% to 5166.25 points and the S&P 500 rose 2.22% to 2131.52 points.<\/p>\n

Market expectations:<\/em><\/strong><\/p>\n

The key event of the day for the market is the US presidential elections. Before the first results come in on Wednesday, 9th<\/sup> November, we are unliklely to see any real price movements. Market volatility will rise when these first results come in.<\/p>\n

I\u2019m not paying attention to the macroeconomic data today. In my forecast I\u2019ve gone for a correction of the euro\/dollar to the 45th<\/sup> degree at 1.1080. Taking into account that the LB during the American session will head through 1.1073, Perhaps my target won\u2019t be reached. Today it\u2019s worth being afraid of the media. Any rumours surrounding Trump could cause a crash of the dollar.<\/p>

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