On Monday we looked at how the EURUSD recently fell victim to a trap as old as the markets.
It seems Euro bulls got ahead of themselves leading up to the May 7th run-off election in France which resulted in a “sell the news” reaction.
Between the first and second round of the election, the single currency gained 270 pips against the greenback. That made it the largest two-week rally since March of 2016.
Additionally, the pair closed last week above a significant resistance level near 1.0960.
Source: Daily Price Action
We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.
Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at email@example.com
Follow us on twitter @newsbeatportal
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535
Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.