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It’s Monday April 24th, My name is Kiana Danial, CEO of Invest Diva and here is your forex report. The EUR/USD pair hit a five and a half month high at Sydney’s market open as the French election results showed that Macron gained 23.7 percent of votes, while Le Pen got 21.7 percent. The knee-jerk gap was quickly reversed hours into the Asian session. We still have the second round of French elections ahead of us on May 7th, so we could see a good amount of volatility heading into the event as the market participants price in their outlook on the results. Long term resistance levels are set at 1.11 and 1.15, while support remains at 1.05. German IFO – Expectations is also scheduled to be out today at 8 AM GMT which could have a minor impact on EUR crosses.
Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.