State of the market: dollar weakened on Democrats victory

The US dollar was under considerable pressure on exit poll data, which show Democratic leadership at the start of trading on Wednesday. It means that the Trump administration is expected to pay closer attention if the Democrats win in the US midterm elections. If the Democrats occupy a majority in the House of Representatives, further political plans will undergo significant changes as it will be more difficult for him to carry out new bills. Already existing laws of the Trump administration may be under the criticism, because it can be revised. So far there is no official data on the midterm elections, but everything points to the leadership of the Democrats.

The US dollar index started trading on Wednesday in very different directions with the minimum update at 96.00-95.90, which ultimately confirmed the weakness of the dollar on the heightened political risks in the United States. Significant support for the American dollar is located at levels: 95.70-80 and 95.50.

Read also: “Trading against the trend using examples”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Dow Theory – The trand is confirmed by volume!
2. Dow Theory – The price discount all the news!
3. Oil market expectations for November

Current Investment ideas:

1. “3 reasons to buy  Cisco Systems Inc. shares”
2. “It’s time to hit the jackpot on the sale of McDonalds shares!”