Final U.S. Presidential Debate Leaves Market Unaffected

Dear traders,

While the tone of the final U.S. presidential debate was much more civil that the first debate it gave traders little reason to shift their stances before the election on November 3 with the market showing no reaction during the debate.

The U.S. dollar traded slightly higher against the euro and pound but no big market moves were seen Thursday.

The DAX broke below 12400 and slid to a low of 12342 which was only a few pips away from our profit target TP100. However, we were able to book a good profit before the index recovered its losses.

Today is the last trading day of the week and we will save our weekly profit and wish everyone a wonderful weekend!


We wish you good trades!

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Copyright © All Rights Reserved 2020 MaiMarFX.

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U.S. Presidential Debate In Full Swing But Investors Remain Risk-Averse

Dear Traders,

This week started with some volatile swings in the Forex market with GBP/USD being the most volatile currency pair on Monday. The British pound dropped again towards its current support at 1.2910 before it started a relief rally. The cable has been torn between the rising fears of a “hard Brexit” and the weakening dollar.  The euro, however, rebounded against the U.S. dollar and the pair tested its resistance zone around 1.1275/85. As stated in yesterday’s analysis euro bulls should better wait for prices above 1.13 and even better above 1.1350. As long as the euro remains below 1.13, our focus shifts to a break of the 1.12-support.

The pound sterling traded volatile during the Asian session as the first U.S. presidential debate is in full swing. A Clinton win is seen as dollar-positive while a Trump victory would lead to chaos in the markets and has not yet been priced in. Investors remain risk-averse in the run-up to the presidential election in November and seek safe havens. Recent polls show a close head-to-head contest between the two candidates.

Apart from the U.S. debate and safe haven flows, U.S. Consumer Confidence, due at 14:00 UTC could have an impact on the greenback.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.