Euro takes a hit as far left comes out ahead in French election result
Likely political gridlock in France leads to market jitters.
EUR/USD unhinged as France in limbo
EUR/USD, although slightly on the back foot on Monday morning, still has the $1.0852 mid-June high in its sights, provided that the 200-day simple moving average (SMA) at $1.0797 underpins.
EUR/GBP takes a beating
Last week's EUR/GBP rejection by the key £0.8484 to £0.8503 resistance zone has so far taken it to Monday's £0.844 low, to marginally below the late June lows at £0.8431-30 which should offer support.
Minor resistance can be seen at Friday's £0.8478 high.
EUR/JPY stuck below multi-decade highs
EUR/JPY's advance is taking a breather below its ¥174.74 August 1992 peak.
Minor support around the 1 July high at ¥173.67 currently holds with further potential support being seen at the 24 June high at ¥171.44 and in the ¥170.29 to ¥170.14 region.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
