Does last week's breakout signal the winner of elections?
EURUSD broke out of a daily downtrend last week.
Judging by the bullish price reaction to the first round, this could mean that the market anticipates Macron to take this elections.
The polls obviously support this scenario and perhaps aggressive buyers already positioned themselves to gain from another bullish gap.
1.1 was (still is) a resistance zone. Next resistance zones (based on the weekly chart) are 1.14 and 1.15 (top of a weekly range)
A surprising victory of Le Pen will send EURUSD back below the trend line and back towards the bottom of the weekly range.
Judging by the bullish price reaction to the first round, this could mean that the market anticipates Macron to take this elections.
The polls obviously support this scenario and perhaps aggressive buyers already positioned themselves to gain from another bullish gap.
1.1 was (still is) a resistance zone. Next resistance zones (based on the weekly chart) are 1.14 and 1.15 (top of a weekly range)
A surprising victory of Le Pen will send EURUSD back below the trend line and back towards the bottom of the weekly range.