empty
09.11.2022 10:24 AM
Forecast for EUR/USD on November 9, 2022

In the elections to the US Congress, the "red revolution" (Republican control of both chambers), as we thought, is not happening. In the elections to the Senate – to the main house of Congress, the Democrats are leading – 48 seats against 47 for Republicans (you need to get control of 50 seats), the Democrats are lagging behind in the lower house - 162 seats against 193 for Republicans. Control of the House of Representatives will occur when 218 seats are reached. The results will be announced later in the evening. In the current elections, as they write in American newspapers, the counting of votes will be delayed.

This image is no longer relevant

Meanwhile, the euro managed to go above the upper limit of the price channel. The target range of 1.0100/30, taking into account fluctuations, is almost reached. Now the price has to choose one of the options: overcome the range and continue to rise to 1.0205, or return to the downward price channel with the support of 0.9950 being reached. The price channel in this case will be eliminated. We noted earlier that the programs of both competing parties are at least indirectly aimed at strengthening the dollar, so the factor of today's elections will quickly fade away as a typical psychological moment.

This image is no longer relevant

There are no signs of growth or reversal on the four-hour chart. But this is an indicator of market neutrality. We are also in no hurry to get ahead of events, keeping both scenarios in mind.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 07/04/2025: EUR/USD, USD/JPY, GBP/USD, SP500, USDX, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:37 2025-04-07 UTC+2

EUR/USD Forecast for April 7, 2025

Last Friday, global markets continued to decline — albeit unevenly: the S&P 500 fell by 5.97%, oil by 7.41%, commodity currencies lost around 2% on average, and the yield

Laurie Bailey 05:20 2025-04-07 UTC+2

GBP/USD Forecast for April 7, 2025

On Friday, the British pound collapsed by an impressive 200 pips. This morning, the price tested the target range of 1.2816/47, which it had slightly missed on Friday

Laurie Bailey 05:20 2025-04-07 UTC+2

AUD/USD Forecast for April 7, 2025

AUD/USD This morning, the Australian dollar reached the target support level at 0.5943. The day opened with a downward gap, which remains unfilled for now. The Marlin oscillator is beginning

Laurie Bailey 05:20 2025-04-07 UTC+2

S&P 500 Forecast for April 7, 2025

S&P 500 This morning, the futures contract on the U.S. stock index S&P 500 reached a strong support level at 4817 — the peak from 2021 (which will only

Laurie Bailey 05:20 2025-04-07 UTC+2

Trading Signals for GOLD (XAU/USD) for April 4-7, 2025: sell below $3,120 or buy above $3,025 (21 SMA - rebound)

If the gold price breaks the uptrend channel again and consolidates below 3,090 in the coming hours, we could expect it to continue falling, and the price could reach 3,070

Dimitrios Zappas 17:37 2025-04-04 UTC+2

Forex forecast 04/04/2025: EUR/USD, USD/JPY, SP500, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 14:17 2025-04-04 UTC+2

EUR/USD. April 4th. The Trade Conflict Is Only Gaining Momentum

On Thursday, the EUR/USD pair continued its upward movement. At the moment, the decline in the U.S. dollar has paused, but the market could "explode" again at any moment

Samir Klishi 10:32 2025-04-04 UTC+2

GBP/USD. April 4th. What Can the Dollar Count On?

On the hourly chart, the GBP/USD pair once again soared on Thursday, breaking through several levels. Consolidation below the 1.3151 level allows for expectations of a slight decline toward

Samir Klishi 10:21 2025-04-04 UTC+2

EUR/USD and GBP/USD April 4 – Technical Analysis

After several attempts and three weeks of consolidation, the bulls finally launched a breakout, allowing them to close yesterday well above the resistance levels of the Ichimoku Cloud

Evangelos Poulakis 09:38 2025-04-04 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.