If the weekend shift in betting markets is anything to go by, Democratic presidential candidate Harry Harris has a lot of momentum. With less expansionary fiscal policy than Trump advocated, traders rushed to price in the reduced risk of a red wave in Congress, which caused the dollar to open weaker today and the euro and Australian dollar to briefly turn bullish. In other words, this is the betting market's reaction to the apparent shift from Trump to Harris in key swing state races. While the market is skeptical of the reliability of the poll results, there is no denying that the market continues to be influenced by it as Election Day approaches. Despite an important reversal pattern in EUR/USD on Friday, Monday's opening move largely negated that signal. The Harris trade is reflected in momentum indicators in Europe and the United States, with the Relative Strength Indicator (RSI) moving higher and the MACD showing a bottom gold cross confirming the bullish signal. However, given the volatile price action and lack of long-term bullish momentum, I would not be overly bullish on this signal. The short-term bias is still to buy EUR/USD on dips, especially if the market continues with the Harris trade. EUR/USD support is expected at 1.0832, 1.0778 and 1.0768 (key here). Resistance stands at 1.0906 and 1.0952.