EUR/USD at a very important level before the Franch elections
I can’t help myself when I see something interesting and that’s why I want to share this with you. This analysis is our first official technical post as Aureus Invest. Basically, this is how I see this current level in the most interesting currency pair EUR/USD and I can tell that the same is on high importance for furder development here. As you can see, the weekly (red) trend line stoped the pair on the way up for third time last week and now the pair is holding on this level at aprox 1.0920/40 in this one. Weekly MA100 is exactly at 1.1000, just a few pips below and this is the ‘next problem’ for the bulls. But, what’s interesting is that we have the FED and interest rate decision today and what even more important is, the French presidential elections, 2nd round on Sunday May 07. My view is that, if the pair don’t pass this resistance level in this week and it’s hard to expect, we could see a ‘jump over’ due the opening of the next week, of course if Macron, a pro-European centrist win and it should based on recent pools, 60/40 vs LePen.
This is the chance for the euro bulls to take over the pair in different teritory in their favor, above the 1.1000 and weekly MA100, after which 1.1300 could be the next target for them. If they fail now, the return toward 1.0750/800 is possible, where the serious buyers are waiting again.
Stay tune, maybe I will continue to write my analysis. Not as I use to in the previous couple of years, but sometimes when I see an interesting levels and situations.