Frenchelection
This is what you need to know before the elections results EURUSD is trading inside a yearly trading range.
There's a daily uptrend line that EURUSD is currently still above.. and from above it has a daily downtrend line and the middle of the range - 1.1 (Resistance Zone).
In case of a bullish move, focus on 1.1.
A breakout above this price zone could send EURUSD towards 1.14-1.115 again to re-test the top of the range
In case of a bearish move, a breakdown of the 1.04 support zone can lead EURUSD towards parity and even lower.
As long as it stays inside the range, you can try and trade the range
EURUSD Technical simple buy. Fundamentals are differentsFrench Election are coming today starting at 8pm (Live Bloomberg).
I'm neutral on this pair. Technical buy, Fundamentals are very complicated we can even try to short the pair after Marine Le Pen (extreme) can win the first round. 1.0670 minimum in target sunday at the opening.
Potential Short term reversal of EURUSD at Fibonacci retracementI was interested in a recent analysis presented by AlexandreFXKG as I am trading this pair actively. This morning I spotted a nice continuation in the price as we expected. However, I am worried about the French Presidential election coming up this Sunday (first round only). I am wondering if there may be some large price moves due to thin markets ahead of this event. At the same time I noticed some buzz around the 61% Fibs voiced at a large UK bank. Tracing these fibs to the chart the price appears to be taking some resistance to this 61% retracement.
It could be an early warning that some larger institutions are preparing to book profits or similar at these levels. This is something I am weighing into my own trades. Overall I am actually medium term bullish for the Euro, but very short term (until Monday) I am neutral to bearish.
Personally I might sit this one out now until Monday to review, probably going long. I also expect the price action to remain within the channels, so if the price lowers within the channel, support indicates where I plan to place a future trade.
EURUSD long tradeEuro seems to get going better, needs to break recent highs of 1.0675 in order to trigger the move to 1.08 levels. The main risk this week is french elections, where the latest polls show that Lepen is losing ground, so if this will be confirmed, EURUSD will be trading above 1.08 levels, as its not factored into the price yet.
GBP/EUR: a level to watch over the next two weeksif GBPEUR breaks the upper trend channel shown and 1.2 (or consolidates between 1.18 and 1.2), this could mark the beginning of resurgent GBP. It appears likely this will coincide around the coming French elections...
Market pricing in Euro Rally before elections?Could Euro price in a rally before the French and Dutch elections? If Le Pen wins, Euro could occur some major damage.
EURUSD UncertaintyCurrently, the sentiment of the pair seems to be clearly inclined to a down movement of the price. But we should rather wait until Friday to find out more about what will be the real direction of the pair.
Note that the US is strongly considering a hike in interest rate which can cause the USD to grow much stronger.
However, the France is currently on crosshead of most European traders. Le pen is one step ahead against his opponent. Her winning the presidential election will be crucial for the Euro and combined with the increase in the FED Interest rate we can almost definitely conclude that the EURUSD pair will undergo a downfall.
