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
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
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

USD/JPY: Analysis, Forecast, and Current Market Situation

Recent repeated failures to overcome resistance around 154.50, along with a break below the support level at 153.30–153.25 (previously resistance), confirm the likelihood of further downside movement in the USD/JPY

Irina Yanina 22:01 2025-11-07 UTC+2

Trading Signals for GOLD November 7-11: buy above $4,000 (21 SMA - 5/8 Murray)

The outlook remains positive for gold as it is technically showing oversold levels. The price is likely to reach the key level of 4,110 in the coming days in order

Dimitrios Zappas 13:54 2025-11-07 UTC+2

Trading Signals for EUR/USD for November 7-11, 2025: buy above 1.1509 (21 SMA - 6/8 Murray)

The Euro could continue its rise in the coming days until it reaches the 200 EMA around 1.1615. EUR/USD could even reach 8/8 Murray around 1.1718 and could even cover

Dimitrios Zappas 13:49 2025-11-07 UTC+2

Trading Signals for BITCOIN for November 7-11, 2025: buy above $100,000 (200 EMA - 4/8 Murray)

The eagle indicator is producing a bearish signal. In case BTC consolidates below the 21 SMA located around $115,000, crypto will remain under bearish pressure. It is likely that

Dimitrios Zappas 13:46 2025-11-07 UTC+2

EUR/USD Forecast on November 7, 2025

On Thursday, the EUR/USD pair reversed in favor of the European currency, began to rise, and consolidated above the 76.4% retracement level at 1.1517. Thus, the upward movement may continue

Samir Klishi 10:47 2025-11-07 UTC+2

GBP/USD Forecast on November 7, 2025

On the hourly chart, the GBP/USD pair on Thursday continued to rise after rebounding from the 200.0% retracement level at 1.3024. By the end of the day, the pair

Samir Klishi 10:23 2025-11-07 UTC+2

GBP/USD. Technical Analysis on November 7, 2025

On Thursday, the pair moved upward toward resistance at 1.3148 (blue dashed line), closing the daily candle at 1.3133. Today, it may continue moving upward. Strong economic news is expected

Stefan Doll 10:11 2025-11-07 UTC+2

Forex forecast 07/11/2025: EUR/USD, USD/JPY, GBP/USD, SP500 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 09:49 2025-11-07 UTC+2

EUR/USD. Technical Analysis on November 7, 2025

On Thursday, the pair moved upward toward resistance at 1.1556 (blue dashed line), closing the daily candle at 1.1546. Today, the pair may continue its upward movement. Strong economic news

Stefan Doll 09:15 2025-11-07 UTC+2

EUR/USD Forecast on November 6, 2025

The EUR/USD pair came to a halt on Wednesday. For more than a week, the euro had been falling, but on Wednesday the decline stopped — and no upward movement

Samir Klishi 10:47 2025-11-06 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.