Broke the trendline
Comment:
The week ahead is going to be intense for the euro.There are no major economic news/reports regarding it.This means that the value of the euro will be driven by political news and reactions.We in Ruzey investment are on the opinion that,the euro is going to have a tough week,because of the French presidential elections(23 April).There are a couple of candidates,but the most eye-gouging is Marin Le Pen from the National Front party.She want’s France out of EU and want’s to drop the euro as an official currency in France.You can expect the euro to loose value against the major traded currencies if in the week ahead Le Pen gets high results in the pre-election sociological researches. We think that there is one more political factor that will have an impact on the value of the euro.That is the reaction from most of the EU ministers/presidents on the recent Syrian bombing and the USA-North Korea tension.We don’t know how they will react,but we are expecting the reactions to be passive accompanied with invocation for seizing fire in Syrian and eliminating the tension between the yankies with North Korea.