Home Featured The Analytical Overview Of the Main Currency Pairs On 2022.11.08

The Analytical Overview Of the Main Currency Pairs On 2022.11.08

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The Analytical Overview Of the Main Currency Pairs On 2022.11.08


By JustMarkets

The EUR/USD currency pair

Technical indicators for the currency pair
  • Prev Open: 0.9901
  • Prev Close: 1.0020
  • % chg. for the last day: +2.20 %

Today, the US will hold Congressional Elections. Many investors and traders underestimate this event and refer to it simply as a political one. But it should be noted that this election puts control of Congress and President Joe Biden’s agenda for the remaining two years of his term at stake. Republicans are leading in the polls, and many analysts believe the likely outcome will be a split government, with the Republican Party controlling the House and possibly the Senate in the second half of Biden’s term. This scenario would mean that the US wouldn’t be able provide financial support during an economic downturn if it were to become reality. This would have a negative impact on the government’s ability to spend, and could result in spending being redirected to other purposes. This could cause a sharp rise of the dollar index, a decrease in the European currency and a drop on stock indices.

Recommendations for trading
  • Support levels: 0.9946, 0.9838, 0.9794, 0.9755, 0.9702, 0.9601
  • Resistance levels: 1.0162, 1.0555, 1.0162, and 1.0230

Technically speaking, the EUR/USD currency exchange pair trend at the hourly…



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