EUR / USD: Very slight positive impact of the French parliamentary elections, with no effect on the trend, which remains rather to the correction :


The EUR / USD posted a very slight bullish gap at the reopening of the forex last night, timidly hailing the largely anticipated success of Emmanuel Macron's party in the French legislative elections that took place on Sunday, June 11.

After closing at 1.1195 on Friday evening, the EUR / USD pair reopened Sunday evening at 1.1206 and has since attempted to retain this threshold.

The legislative elections will not have created a negative shock (a positive shock is unlikely given that the forecast for the Macron party was already breaking the ceiling), but the news is largely insufficient to justify a rebound.

However, the results are eloquent according to the exit polls of the ballot boxes, with between 400 and 440 seats out of 577.

The other positive point of these elections, in the eyes of the market, is the decline of the FN, which loses 4 million votes compared to the Presidential. On the downside, participation was historically low, with barely half of the registrants moving to the polling stations.

From a graphic point of view, it is rather the decline that dominates the trend, with immediate resistance towards 1.1205-10, and a key support on the 1.1165.

Above 1.1210, short-term falling opportunities would be questioned, with the upcoming resistances at 1.1230 and 1.1250 in sight.

On the downside, a break confirmed under 1.12 would put in line of sight 1.1165, before 1.1100-10.

Finally, with regard to the economic calendar, this first day of the week will be particularly calm, which could generate a wait-and-see attitude, especially since the Fed meets Wednesday evening and traders may prefer to exercise caution in waiting.

Currently, the EUR / USD is trading around 1,1205 on the forex.

Chart EUR / USD H1

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