Euro / U.S. DollarShort
EURUSD BIG SHORT
Updated
1) Technical: Elliott Wave
2) Fundamental: Ref (investing.com/analysis/euro-u-turns-on-politics-200176568) "Recent polls show Le Pen in the lead even in a race without Bayou, but Bayou is proposing an alliance with Macron and investors are hopeful that this would reduce Le Pen’s chance of victory. Scandal-laden Filion is still ahead of Macron so at the end of the day, we’re not sure how much difference a Macron-Bayou alliance would make. Le Pen’s popularity rose after riots over an alleged police rape spread across the suburbs of France. Her anti-government/terrorism/immigration/EU views are gaining traction but major news agencies are describing a victory by this far-right candidate as the next major political earthquake. It would usher a new wave of protectionism in the Eurozone’s second-largest economy, which could threaten the very fabric of the Eurozone community. For these reasons, we believe gains in EUR/USD will be short-lived."
2) Fundamental: Ref (investing.com/analysis/euro-u-turns-on-politics-200176568) "Recent polls show Le Pen in the lead even in a race without Bayou, but Bayou is proposing an alliance with Macron and investors are hopeful that this would reduce Le Pen’s chance of victory. Scandal-laden Filion is still ahead of Macron so at the end of the day, we’re not sure how much difference a Macron-Bayou alliance would make. Le Pen’s popularity rose after riots over an alleged police rape spread across the suburbs of France. Her anti-government/terrorism/immigration/EU views are gaining traction but major news agencies are describing a victory by this far-right candidate as the next major political earthquake. It would usher a new wave of protectionism in the Eurozone’s second-largest economy, which could threaten the very fabric of the Eurozone community. For these reasons, we believe gains in EUR/USD will be short-lived."
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