Traders have been awaiting the results for the U.S. mid-term elections. The EURUSD oscillated up and down today in a fairly subdued range.
The pair made a higher lower with a bullish engulfing candle closing back within its Asian range and an entry long was taken risking 10 pips for a potential 65 pips to our daily target at 1.1466. Price moved higher slowing to retest its Asian high before moving higher. We tightened our profit stop and were taken out of the trade as price abruptly reversed.
The USD is likely to strengthen if the Republicans maintain a majority in Congress. Should the Democrats win the majority, the USD is expected to weaken. Anticipate an active Wednesday in the financial markets. It will be exciting one way or another.
Good luck with your trading!
