EUR/USD Consolidates Post French Election Surge
April 24, 2017 11:07 amVideo
Latest News
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
EUR/USD has rebounded since April 11, as a result of the weakening of the dollar. The outcome of the first-round voting of the French presidential election was revealed on Sunday night April 23. As consensus, the top two candidates: the independent centrist Macron and the far-right wing Le Pen, won 23.7% and 21.7% of votes respectively. They will the second-round of voting on May 7. As Macron got the first place, surpassing Le Pen with 2% of votes, market concerns over the EU’s collapse after Le Pen’s presidency has been eased to an extent. Markets’ confidence on Macron’s victory in the second-round has also been lifted. The outcome of the first-round voting pushed the Euro up. EUR/USD soared and broke the resistance level at 1.0800, hitting the highest level of 1.0918 since November 11 on Sunday night. However, the price retraced afterwards, as the pressure at the 1.0900 resistance level is heavy. The price has been consolidating during early European session. The 4-hourly and the daily Stochastic Oscillator readings are both above 70, be aware of a correction prior to the next rally. The resistance level is at 1.0880, followed by 1.0900 and 1.0920. The support line is at 1.0835, followed by 1.0820 and 1.0800.
Source: FX Pro Market Snapshot
Related Posts: