Fundamental: news released regarding French election 1st round. Election exit polls* showed that Centrist** Emmanuel Macron, a pro-EU ex-banker and former economy minister led the round.
That was a huge relief for the Euro as this news gives hope for the Eurozone's future.
Euro pops to 5-month high on French election relief
Technical: market gapped +100 pips to 1.09 as of Monday open, but slowly edged down. Gaps are usually closed after they are created. This event under the circumstance of an EU leader election amid long-term downtrend signals that major players must have got their short positions closed. They now are cautious that downtrend may be over, and should buy upon any bull signals.
My advice: Buy the euro with SL 50-200 pips as long as it stays above 1.06 and no bad fundamental news. Holding period: until next round of French election on May 7.
*Exit poll: An election exit poll is a poll of voters taken immediately after they have exited the polling stations. Unlike an opinion poll, which asks for whom the voter plans to vote, or some similar formulation, an exit poll asks for whom the voter actually voted.
wiki/Exit_poll
**Centrist: a person who holds moderate political views. In this case, he prefers the EU to stay.
That was a huge relief for the Euro as this news gives hope for the Eurozone's future.
Euro pops to 5-month high on French election relief
Technical: market gapped +100 pips to 1.09 as of Monday open, but slowly edged down. Gaps are usually closed after they are created. This event under the circumstance of an EU leader election amid long-term downtrend signals that major players must have got their short positions closed. They now are cautious that downtrend may be over, and should buy upon any bull signals.
My advice: Buy the euro with SL 50-200 pips as long as it stays above 1.06 and no bad fundamental news. Holding period: until next round of French election on May 7.
*Exit poll: An election exit poll is a poll of voters taken immediately after they have exited the polling stations. Unlike an opinion poll, which asks for whom the voter plans to vote, or some similar formulation, an exit poll asks for whom the voter actually voted.
wiki/Exit_poll
**Centrist: a person who holds moderate political views. In this case, he prefers the EU to stay.
Comment:
The gap is yet to close. So this trade is still pending until I get a clear view of the situation.
Order cancelled
