Forex Zone (Forex Zone)
Czech markets  |  November 07, 2012 10:30:52

Barack goes on


We can not help but to start what jumps at us from everywhere. Yes, Barack Obama won the U.S. elections. It really does not matter what anybody says and what the prognosis is doing. The market will ultimately determine and issue a judgment upon the choice of Americans.

Initial response of risky assets is upbeat. In part this optimism can certainly weakening USD. See if this optimism will last even in European and especially American session.

As for trading on the monitored pair EUR / USD, so that in response to the election results strengthened. Our setup is already bullish for some time and we were waiting for entry into the market of shoppers Reviews Support around 1.2760, which we warned on Monday. Although now trades about 100 pips over the support and input of shoppers perceive to be significantly strong. We expect therefore a variant of the support around 1.2760 will still be tested. It but we will have to wait, because we are interested in trading in the market at higher prices.

For today, we see a great chance to test today's Asian session high (1.2876). Since we have one day before the meeting of the ECB, so we tend rather to the fact that the market "hold" resistance around 1.2900 and for the rest of the market is more consolidated.

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