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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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EUR/USD drops to 1-month low, EUR/GBP 22-month low and EUR/JPY dips on European election shift to the right

Euro drops significantly on shift to the right at European elections and as French President Macron calls for a snap legislative election.

Euro Source: Getty Images
Forex Euro Japanese yen EUR/USD EUR/JPY EUR/GBP
Written by: Axel Rudolph | Market Analyst, London
Publication date:

EUR/USD view neutralized

EUR/USD topped out at last week's high at $1.0916 with the 9 May low representing the next downside target at $1.0724. The medium-term outlook has thus been neutralized. Further down lies the mid-April high at 1.0690. Resistance can now be seen in the $1.0780-88 region.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

EUR/GBP drops like a stone

EUR/GBP's fall through the key £0.8503-to-£0.8484 support zone negates our previously held bullish view and has the July and August 2022 lows at £0.8409-04 in its sight. Minor resistance can be spotted at the £0.8484 late May low.

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

EUR/JPY remains side-lined

EUR/JPY comes further off Thursday's ¥170.29 high and gravitates towards its early June low at ¥168.03 low and possibly the mid-May low at ¥167.34.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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