On April 24, 2017, the common currency opened with a gap that remains open. The bullish movement was triggered by France’s election, from where the pro-Europe candidate Emmanuel Macron won to Marine Le Pen.
Macron’s victory helped the euro to jump from 1.0724 to 1.09185 on April’s 24 trading session.
On the technical side, gaps tend to be filled around 90% of times. In view of this likelihood of a gap close, we have two scenarios for the EURUSD pair.
- Scenario 1: The gap will be closed.
- Scenario 2: The gap will continue opened.
Now it’s your turn to vote.