Here we are right before the US ELECTIONS and we have the #EURUSD holding up near the recent highs. Previously we sent out some analysis on what we could likely expect based on historical data collected from the CFTC and what took place last time the institutions we positioned the same way they are now.
So if we get the drop that is expected based on strong evidence, what will happen?
We know that it's the banks that move the markets and so we need to see where they are buying or selling. When we examine the #EURUSD chart we can see that the banks started their buying of the #EURUSD further down the chart. So this suggests that if price does indeed drop then we will be watching for long trade signals to be produced in around the area they were buying at before.
Have a look below!