Last week the Eur/Usd made a rally attempting the 1.09 but was rejected and afterwards has been falling for 4 straight days. Central banks where dumping euros amid concerns over political instability, weak growth and the European Central Bank’s negative interest rate policy — and favor sterling as a long-term, stable alternative.
The euro reached some support around 1.0640 and is consolidating after the the risk of the French political outlook has reduced slightly. Here’s a top 5 French candidates that want to reshape the euro area and a recap chart how they want to achieve it.
It looks like a long and hard way for Marie Le Pen and she will not have the full support from the parliament to go trough.
From Australia, the RBA statement was seen as dovish and postponing talks about a rate hike in 2018.
On the eToro account I will keep my current macro global strategy little unchanged. Not trading eurusd, using instead the eur/nzd cross to earn overnight interests and profit from the euro volatility. Aud/Usd I might go for short term technical sell signals, but mainly buying on support levels for the long term. Cable so far this last year, even with Brexit and a longterm bullish stance it has been the pair yielding more profits in this account. I will keep it until 1.29 with this current strategy and then will see how it goes after revisiting the unclosed gap at 1.2920.
Wish you all an amazing week