We are looking forward to the United States presidential election, which is scheduled for November 8, 2016. Democrat Hillary Clinton and Republican Donald Trump are going to fight for their «place under the sun». We are positive that the macroeconomics is going to pull back in the financial markets before the new President is chosen. During this time politics is going to take all the attention. I am not going to forecast who is about to become the next American President, but we are prone to think that Clinton is about to take the lead and become the first ever American Female President.

Considering the data published in the USA, we can surely say that that there are positive vibes of FED not preventing a rate rise in December. However, the market is all about politics and it may move side to side the next couple of days.

GBP/USD

As for the British currency, sales did not prove to be a good idea for us last time. However, we should still stick with this plan and try to sell the old gentleman again. Sales should be only done away from the broken ascending channel, which has turned to the reverse flag:


Sell Limit 1.3000, Stop Loss 1.3050, Take Profit 1.2800.

We have also broken the descending channel in terms of the USD, and therefore, we should try to buy the Pound at the pullback and at the forming of the candlestick patterns:


US500

The American index S&P 500 has been reaching new highs for several months in a row, but suddenly it went down. We are waiting to the index rate to go down until the level 1990.00. Here we should account for a possible pullback to the key horizontal level 2137.00. There we will get a chance to sell. The process has already begun and the S&P 500 has a very nice potential to go down:



Credit: Tickmill.com