• FxWirePro: EUR/USD struggles to close above 1.1000, good to sell on rallies

    Source: FxWire Pro - Technicals / 08 May 2017 05:22:33   Eastern Standard Time

    • EUR/USD jumped to a high of 1.0211 level after Macron has won the second round of French presidential elections.
    • Centrist Emmanuel Macron has taken 66% votes compared to 33% by Le Pen. The pair’s major intraday support is around 1.09400 (resistance turned into support) and any break below will drag the Euro down till 1.0919 (200H MA)/1.08500 (Apr 27th low). Minor trend reversal can be seen below 1.0838 (200- day MA).
    • On the higher side, any break above 1.1000 will take the pair to the high made today at 1.0210/1.10500.

      It is good to sell below 1.09425-450 with SL around 1.100 for the TP of 1.08500/1.08200.