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EURUSD 1 HOUR CHART – OOPS!
EURUSD seemed setup for a gap to the upside but the surprise French vote saw a gap to the downside.
To fill the gap, 1.0838 needs to trade.
On the downside, 1.08 is the obvious pivotal level with support at 1.0794=99 chart support.
This is a tough one to call until the political dust settles so toi keep it simple:
Keeps a bid while 1.0799 holds, below it says that politics rules.
On the upside a move above 1.0850-52 would say politics doesn’t matter.
EURUSD 1 HOUR CHART – Mind the gap!
One trigger for the EURUSD rally was that it bounced after filling last week’s opening gap.
Given the French elections and EURUSD closing around its high, there is a risk of another gap opening on the upside.
Scroll down for an update showing key levels on the upside.
Once the dust settles on the French election attention will shift to the U.S. with CPI and Powell testifying/ See the full preview
EURUSD DAILY CHART – 1.09-1.10?
Chart is clear. If 1.0852 is firmly broken and sustained, risk is for a run at targets in the 1.09-10 area.
On the downside, expect support on dips as long as it trades above 1.08.
Note French 2nd round vote is on Sunday and price action suggests a view (and relief) that the far right will not win an outright majority.
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