Global macro overview for 24/04/2017
April 24, 2017 6:38 amVideo
Latest News
- Technical Analysis – USDCAD is range-trading; the next break is key for market sentiment May 19, 2023
- USD/JPY analysis for May 19, 2023 – Breakout of the rising channel and potential for the further drop May 19, 2023
- Analysis of Gold for May 19, 2023 – Rejection of the support cluster at the price of $1.950 May 19, 2023
- Technical Analysis of ETH/USD for May 19, 2023 May 19, 2023
- Technical Analysis of BTC/USD for May 19, 2023 May 19, 2023
- Technical Analysis of GBP/USD for May 19, 2023 May 19, 2023
- Technical Analysis of EUR/USD for May 19, 2023 May 19, 2023
- Overview of the GBP/USD pair on May 19. The Bank of England’s QT program does not significantly impact the economy May 19, 2023
- Overview of EUR/USD pair on May 19. The euro continues to lose positions against the dollar May 19, 2023
- USDCHF, H4 | Bullish Continuation Expected? May 19, 2023
- USDCAD H4 | Symmetrical triangle pattern? May 19, 2023
- EURUSD, H4 | Bullish Ascending Channel? May 19, 2023
- Trading Signal for GOLD (XAU/USD) for May 19-22, 2023: buy above $1,950 (7/8 Murray – oversold) May 19, 2023
- Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday May 19, 2023. May 19, 2023
- Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday May 19, 2023. May 19, 2023
- Forecast for EUR/USD on May 19, 2023 May 19, 2023
- Forecast for GBP/USD on May 19, 2023 May 19, 2023
- Forecast for USD/JPY on May 19, 2023 May 19, 2023
- The euro was left out of the game May 19, 2023
- US stock market closes higher, Dow Jones gains 0.34% May 19, 2023
Global macro overview for 24/04/2017:
The results of the first round of the French Presidential Elections indicate a split win. The centrist Macron had polled around 24% with both National Front leader Le Pen at 21%. This two candidates will move ahead to the second round run-off due to be held on Sunday, May 7th. Socialist Party candidate Hamon quickly conceded defeat and endorsed Macron for the second round. Fillon also conceded within an hour of polls closing and backed Macron against Le Pen.In conclusion, two opposite political points of view will fight for the French presidency in two weeks. The win of Marcon is Euro positive (risk-on), the win of LePen is Euro negative (risk-off).
Let’s now take a look at the EUR/USD technical picture at the H4 timeframe. The market gapped up to the level of 1.0918, but now is moving lower slowly.The Friday close at the level of 1.0730 might be tested again by the end of the week. The next support is seen at the level of 1.0777, and the next resistance is the gap high at the level of 1.0918. The bearish divergence between the price and the momentum oscillator supports the bearish bias.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: