FxWirePro: EURUSD trades higher after French election result, good to buy on dips
EUR/USD shown a gap up opening on Monday as Centrist politician Macron qualified for the May 7th French Presidential run –off along with Marine Le Pen. Euro hits 1.09158 level highest since Nov 11th 2016. It is currently…
EUR/USD shown a gap up opening on Monday as Centrist politician Macron qualified for the May 7th French Presidential run –off along with Marine Le Pen. Euro hits 1.09158 level highest since Nov 11th 2016. It is currently trading around 1.08694.
The supply zone is at 1.09058 (Mar 27th high) and any violation above will take the pair till 1.09329 (61.8% retracement of 1.1299 and 1.03400)/1.09785 (50% retracement of 1.16163 and 1.03400).On the lower side, major support stands at 1.0840 (200- day MA) and decline below targets 1.07800/1.07500.
Short term bullish invalidation only below 1.06800.
It is good to buy on dips around 1.0835-1.08400 with SL around 1.0775 for the TP of 1.0905/1.09750.
