Macron Wins French Election: EUR/USD Buy the Rumour Sell the Fact | Vantage FX

Macron Wins French Election: EUR/USD Buy the Rumour Sell the Fact

May 8, 2017

Well that’s that. There will be no Trump or Brexit moment in France and stability inside the Eurozone remains.

Not to mention stability of EUR/USD.

Here are the results as of this morning:

2nd round French Election results in a table format from Google

Yes, Emmanuel Macron has pulled off an extraordinary election victory!

Just one year ago, his political party didn’t even exist. Now with Macron at the helm, they’re governing France. A truly amazing story.

Le Pen’s National Front, while offering right leaning change, is still seen as ‘toxic’ in the eyes of many French voters, even those on the right. This reputation proved too much in convincing the mainstream.

But lessons will be learned and by beating out the two historically established parties, this shows that the appetite for right wing change is still alive and well.

Taking a look at the Euro, the EUR/USD triangle broke out to the upside on a gap-up, but was quickly smashed back down as soon as the market opened.

EUR/USD Daily:
160508_eurusd_daily
Click on chart to see a larger view.

Zooming in and we can see how quickly the gap was filled:

EUR/USD 15 Minute:
160508_eurusd_15minute
Click on chart to see a larger view.

It’s always hard to predict whether this is going to be one of those times, but with EUR/USD rallying as hard as it did following the first round, this was a huge buy the rumour, sell the fact trade.

We have our horizontal range support/resistance levels in place. How do you think it’s going to react off them from here?

Take advantage of market opportunity on a Vantage FX live MT4 trading account.

Dane Williams – @VantageFX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the Forex account of the reader. We always aim for maximum accuracy and timeliness, and FX broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Social

SymbolBidAskSpread

Spread

Experience Transparent and Secure Forex Trading with Vantage FX



  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!
Forex Promotions

Open a live account today to gain exclusive access to our 8 Forex Promotions. 

Find out more.