Comments on the chart
Comment:
was right not to jump in long. France elections results came out supportive of the euro and the pair gapped down. In so doing price closed below the uptrend line. If price does not regain the uptrend line then price will continue downwards.
Comment:
Price action today reversed upwards and tried to take the uptrend line back. Very valiant attempt and this could continue. I can only turn bearish if the recent low 1.1722 area is taken out. so still bullish...
Comment:
Price has reclaimed the 1.18xx level and it is looking strong again. A breakout to the upside can still be delivered. The end of next week is important for the euro - 2nd round french elections. The polls are saying the euro has nothing to worry about. Polls are one thing though and FX trading is another...