French
Pre Marlet Euro jumps to 5½-month high after exit pollsHow influential will the French election be on markets? How influential will the French election be on markets?
8 Hours Ago | 02:29
The euro reached a five-and-a-half month high against the dollar when markets opened Sunday evening as exit polls in the French presidential election indicated a victory for centrist Macron.
The single currency jumped to $1.09395 in early trade after having closed at $1.0723, according to Reuters data. This was a 2 percent jump on the day.
This comes after exit polls showed the independent candidate Emmanuel Macron gathered most of the votes in the first round of the French election. The same polls indicated that far-right candidate Marine Le Pen placed second in the first vote
EURGBP Range Trade on Election UncertaintyEURGBP at the end of the week sitting at the bottom of a well tested range. For the next 10 days, markets are likely to be preoccupied with Euro uncertainty regarding the French elections, and so are unlikely to see a significant BreakOut until after the 23rd, and potentially the 7th of May.
I plan on buying at around .8445, with a first profit take at the top of range (.8825), and 2nd at (.9) should we see a bullish BO.
SL behind key support at .825
GL and Happy Easter!
Trade based on historyThis setup for trade is based on history from 1998. Double bottom are like 2 drop of water (find vertical lines). Expecting EUR reach tops (dotted blue), because od French election. And from 120ish, Short and break 1000 points.
Total (FPP) : Open short ! The major resistance blocks buyersThe french blue chip Total (FP, 111b € of Market Cap), from the oil industry, is inside a bearish dynamic since June 2014. This is characterized by lower tops and lower bottoms.
Currently, the buyers seemed to have taken back the advantage, but the Major resistance area at 45.00€ is still preventing the stock from going higher . As long as this level is not passed, the long term trend such as the mid term one will remain bearish. The 200 days Moving average shows that Total is still inside the downside direction ; it does not reverse durably.
For the blue trendlines : I always consider horizontal levels as the most important ones for trading ; the blue trendlines are just to show the pace of dynamics. A breakout of this type of line is not a sufficient indication to make a trade.
Because we are still in a bearish trend , with in addition to that the proximity with a major resistance area , it seems to be a great opportunity to open a short trade at the current price (44.15€ approx.) :
- stop @ 45.20€
- first target @ 43€ (to close 50% of the position) (Reward/Risk = 1.09)
- second target @ 41.60€ (to close the other 50% of the position). (Reward/Risk = 2.42)
Don't hesitate to share your view about this stock in comments !
CAC40 : The rounding tops show a bearish momentumThe CAC40 is consolidating between 4300 and 4520 pts since the middle of July. The US indices are currently showing weaknesses, and so does the french equity market.
The resistance area at 4550, doubled with the other one at 4520, definitely constitute a barrage for the buyers to go higher. The bearish forces are getting a bit stronger as weeks pass, as shown by the rounding tops. The long term moving average (200 days) remains decreasing, which highlights the downside underlying trend.
The first steam to break is the ascending trendline (blue). The current price at the CAC40 is high enough to initiate a short position :
- Short @ 4460
- Target @ 4315
- Stop @ 4520 (just above the first resistance)
