EUR/USD sold the fact of Macron’s expected ascendancy to the French presidency. After a false break above 1.10, the pair turned to the downside. The drop was not limited to the US dollar: the common currency slipped across the board. This was a classic “buy the rumor, sell the fact”. The last opinion polls showed Macron gaining momentum. EUR/USD is now extending its losses below 1.09, reaching a new low at 1.0893. Further support awaits at 1.0870, the December 2016 high. Even lower support is at 1.0820. This was the lowest level after the first round of the French elections. On the upside, 1.0950 and 1.10 are notable. Contrary to yesterday’s drop, this fall is related to the dollar’s strength. The greenback is on a roll against the yen, with USD/JPY hitting 113.80. GBP/USD is getting further away from the 1.30 level. Why is the dollar rising? This is harder to tell. The most recent data is the Non-Farm Payrolls report. It showed a strong gain of 211K, better than expected. On the other hand, wage growth slowed down to 2.5%. This does not bode well for the June Fed decision. EUR/USD still trending higher Here is the EUR/USD hourly chart. While the recent drop is clear to see, the trend since the beginning of the year is to the upside: higher lows and higher highs. More: What’s next for the euro? Dip buying? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/JPY already 550 pips above the lows – levels Yohay Elam 6 years EUR/USD sold the fact of Macron's expected ascendancy to the French presidency. After a false break above 1.10, the pair turned to the downside. The drop was not limited to the US dollar: the common currency slipped across the board. This was a classic "buy the rumor, sell the fact". The last opinion polls showed Macron gaining momentum. EUR/USD is now extending its losses below 1.09, reaching a new low at 1.0893. Further support awaits at 1.0870, the December 2016 high. Even lower support is at 1.0820. This was the lowest level after the first round of the French elections.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
