Dollar extends run higher

Technical Analysis

Author: Greg Michalowski | eurusd

EURUSD and GBPUSD crack moving averages

A headline from SMarkets odds reversed to Trump 52% to Biden 45% and that took the dollar higher. Gold is lower.  Yields are moving lower. 

For the EURUSD, the pair fell below the 100 hour MA at 1.16776 AND the 100 day MA at 1.16645. The price has moved to 1.1631.  The low for the EURUSD yesterday moved to 1.16212.  That is the next target.  Stay below the 100 day MA now will be eyed.  

The GBPUSD moved below its 200 hour MA at 1.29938 and looks toward the 100 hour MA at 1.29539.  The price is currently at 1.2973. The price action is tilting more to the downside with the 200 hour MA eyed. 

The USDJPY is racing higher and trades at the highest level since October 21 and runs above the 105.00 level.  

South Carolina is going easily to Trump. That may be a precursor to a Senate race where incumbent Lindsay Graham is running against challenger Jamie Harrison.   

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