Friday April 21, 2017 - 09:57:32 GMT
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Markets are trading cautiously early Friday heading into th French Presidential vote on Sunday. Its outcome could have profound implications for the future of the Euro. Odds are the outcome of the election will not be decisive and a second round vote on May 2 will be required. So Sunday's vote will only determine who the two candidates will be for the run-off vote. Nevertheless, the uncertainty has the EUR trading nervously.
The EURUSD HOD has been 1.0738, while the LOD is 1.0695. The area around 1.0738 figured prominently in Thursday's trade. Absent new French developments, where we are trading relative to the 1.0700 line will set the tone. Looking at the Amazing Trader EURUSD 5 min chart, note the number of blue resistance lines at this hour indicating the current market bias is down. Watch your charts as the short-term ia always subject to change as market conditions change the session wears on. Below the LOD, thenext major support is 1.0678.
Our "live" commentary is updated on the GVI Forum. Refer to your continuously updated Amazing Trader charts for precise Support and Resistance levels as the session wears on. View trading strategies, test ideas, post comments, ask questions, etc. on the GVI Forum. For access contact: [email protected]
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