EUR/USD set a bottom at 1.08500 and traded up last week, gaining 1.41%. With elections coming up and Trump gaining voters in the polls, markets got scared and the dollar lost strength against its opponents. However, EUR/USD didn’t make a new high and is still in a downtrend. It will need to go through a lot of resistance levels and make new highs to breakout of this downtrend. The elections on Tuesday will give us a direction on where EUR/USD will go next.





GBP was the biggest gainer against the dollar this week compared to its peers. After breaking through the resistance level at 1.22736 and through the 23.6 Fibonacci level, it accelerated and went all the way up to the 38.2 Fibonacci level around 1.25500. The cable seems to be losing momentum and will need to accelerate again in order to break through 1.25500






USD/JPY lost 1.52% this week, but found support at 102.550, which was the resistance level from the 8th of September this year. USD/JPY didn’t make a new low and thus the ninja is still working its way upwards. Right now USD/JPY is in the value zone, between the 50 and 100 EMA (Exponential Moving Average). The value zone signals buying opportunities and hints for new gains next week.






AUD/USD gained 0.96% last week, but is having trouble with a lot of resistance levels on its way up. The Aussie keeps making higher lows, but fails to make higher highs. Last week AUD/USD gained, but MACD lost ground and declined, telling us that the bull power is fading away. Watch the resistance levels at 0.77000 and 0.77500 and the latest low at 0.71576 when election are over.






NZD/USD is in an uptrend for a year now and it looks like it isn’t ending soon. The trendline, that goes all the way back to September 2015, gives a lot of support. However, NZD/USD will need to make a new high in order to confirm that it’s still in an uptrend. The resistance level at 0.75000 is around the 50.0 Fibonacci retracement level. NZDUSD will need a lot of strength to break through that resistance level and make a new high.





USD/CAD gained only 0.5% and is having a lot of trouble with the 1.34500 resistance level, the high from September 2015. USDCAD will probably trade in a range until elections are over.






The DAX declined 3.75% last week, after investors worried about the U.S elections results. After the DAX broke out on the upside of the symmetrical triangle, it quickly failed to break through  the 10.800,00 resistance level. The result of this rejection was a huge selloff and the DAX is now searching for support, which it will probably find at 10.100,00.






WTI declined 8.66% this week. WTI failed to break through its resistance at 51.50 and MACD went through its centreline. Starting a huge selloff. WTI will find support at 43.20 and 39.50.