Just a final quickie from me before I depart to my bed
EURUSD took another look at the highs as the winning vote percentages switched players.
We're back under 1.0900 as I type, and although the retail platforms are fired up, the numbers are a touch flaky between what's happened in the interbank, and what some of our charts will be showing. For example, my chart has 1.0917 as the current high, whereas the BBG chart has that 1.0937 high.
What is important (if we take the interbank levels), is that the price looks to have stalled right in the area of the 61.8 fib of the Nov/Jan hi/lo, and just shy of an old S&R area around 1.0950/55.
EURUSD H4 chart
Support is being found on another old S&R level at 1.0880, so look to that and the opening level around 1.0850 initially, followed by 1.0830/20 & 1.0800/10.
It's looking pretty neck and neck as the rest of the numbers come in, and that leaves a lot of decisions for traders to make over the next few hours and into the European open. In my opinion, Le Pen doing as well as she has isn't a bullish signal so I'd be cautious on seeing further gains, and on watch for any signs that this rally might fail.
In my many years I've learnt not to look a gift horse in the mouth, so have reduced a small part of my longs. Late Friday I decided to leave my position intact and hedge with some options, of which I'm holding a loss of around 80 pips. Considering we were up over twice that amount, I decided to book some of that profit and see what the options do the over rest of the week.
I'll bid you bon chance now and see you all in the morning.
