The French Election Is Tense, EURUSD Teeters
The euro is under pressure from the prospect of Le Pen defeating incumbent Macron in the French presidential election.
Investors are suggested to marginal short with light positions near the current price, Target 1.0830 and Stop-Loss by 1.0890.
The euro is under pressure on expectations of far-right presidential candidate Marine Le Pen defeating incumbent Emmanuel Macron, ahead of the French presidential election over the weekend. On Thursday, a number of Fed officials with a relatively dovish stance expressed their support for accelerating interest rate hikes, and the Fed’s stance was obvious. Institutions expect that the probability of the Fed raising interest rates by 50 basis points in May is quite high, and it may officially begin to shrink its balance sheet, which is good for the dollar. Overall, EURUSD will maintain a bearish trend in the short-term.
In the 60-minute level chart, (5,10,20MA) three moving averages show a bearish trend, the MACD bearish strength is weak but still exists, the RSI is still running below 50. Looking at the above indicators, EURUSD may rebound slightly in the short-term, but the overall is maintaining a bearish trend. Investors are suggested to marginal short on rallies.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.