Analysing markets ahead of a binary event like an election is a tough task. With French elections, the task has become even tougher, given the four-way race and the multiple doomsday scenarios.
It is often recommended that under such situation, the trader/investor should go purely by what the chart says. Hence, in this segment we talk to Steve Jarvis, Technical Analyst at TraderMade, who focuses solely on the technical patterns on the Dollar Index, EUR/USD, USD/JPY, GBP/USD, EUR/GBP, AUD/USD, EUR/AUD, and Gold.
A must watch segment as we get direct insights into the price action without the IFs & BUTs that are usually involved in the fundamental/macro scenario analysis.
When talking about EUR/USD, Jarvis says the gradual progression of the higher low formation is likely to continue, eventually yielding a re-test of 1.09 levels.