Long EUR/USD until Election Time

FX:EURUSD   Euro / U.S. Dollar
We all know the French Elections are coming up, technically speaking, the Eur/Usd             is on a breakout to the upside.

I expect we can see it continue to rise, but will ultimately get rejected again once it brushes up against the 200 day MA (red line). I'll be long until that point, and will look to enter a short position after.

SL for this particular idea would be the 1.0585 area.

I have cancelled pending orders on EURUSD, it doesn’t look so nice. Wait after elections
Makes sense, will short at 1.08764
ChrisAbdey griffin1989
@griffin1989, She's throwing up some pressure - My idea is pretty much invalidated if the close is below 1.0680 - The 15 minute chart is showing some heavy pressure.
griffin1989 ChrisAbdey
@ChrisAbdey, let's see what happens after France elections
bencex10 griffin1989
@griffin1989, Right now, it's a clear head-and-shoulders, and I think the pair priced in the french election already. Le Pen will move on the 2nd round, that will bring the pair further down.
@bencex10, Oh my... The attack in Paris last night. :( -- So you think the pair has already priced in the election?
bencex10 ChrisAbdey
@ChrisAbdey, Yeah, the attack will certainly boost Le Pen votes. I think the market was optimistic about the election that Le Pen might not win. As we've seen with Trump, all the polls were biased.
I think we should look for short positions for the near future.
@bencex10, You seem to be right - I definitely agree with the outlook - you are not the only one who has pegged a Le Pen win. Have a friend over in Germany who pegged it months ago. Time to change the idea....
+1 Reply
bencex10 ChrisAbdey
@ChrisAbdey, Yeah I agree. Though the best would be to stay away from the market till the elections. :)
@bencex10, Very sage advice when it comes to the Euro :)
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