[EUR] After the Election 2020 1108

EUR/USD daily chart, source:FXDD.com

cf. [EUR] Testing Rising Euro 2020 1026

cf. [EUR] Fear of Twindemic 2020 1019

Gjallarhorn keeps the Long position of euro in the futures market, CME. It still records the loss.

Democrat Joe Biden declared his victory against President and Republican Donald Trump over the Presidential Election on Saturday.

Biden got 279 Electoral College votes at least as he won in Pennsylvania, and he is expected to get more Electoral Colleges in Arizona and other states.

The Presidential Election was one of the uncertainty factors in Forex market. It was very difficult to predict the next US President and it raised the greenback and risk-averse asset.

And we can watch the chart itself.

The price of the currency pair EUR/USD fluctuated in a certain channel in the daily chart since last summer below the major downward trend line.

When it plunged, it was supported on around 1.2628 and succeeded to rebound. It is expected that the price may break through the channel and the trend line in order.

We need to watch whether euro would exceed 1.20 against dollar again.

The possible fiscal stimulus may drop the greenback.

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