Wednesday April 19, 2017 - 09:30:35 GMT
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Forex markets are by their nature multi-dimensional. This is one of the intellectual appeals of being activ in these markets. Today we are watching the GBP implications for the PM May call for a U.K. "snap election" on June 8, the first round of the French Presidential elections on Sunday and what President can do to unstall his economic stimulus programs in Congress. The general view is that the GBP would benefit if she strenghthens her hand as a result of the vote. The EUR is seen as vulnerable to more uncertainty from the French Presidential vote and the USD is performing poorly as the Trump economic stimulus program is looking to be stalled at the present time.
The EURUSD HOD has been 1.0738, while the LOD is 1.0708. Local upside stops in EURUSD were run on Tuesday. The tone of the pair is being determined by its relationship to the 1.0700 line. The USD is being pushed in different directions by EUR and GBP political developments.
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