Upon opening bell, EUR skyrocketed to the moon, strengthening massively against all other currencies, after news broke that Emmanuel Macron and Marine Le Pen are through to the second and final round of the Elections.
I had a bullish inclination on the EUR/USD end of last week. Even though it was in the right direction in the end, I did not enter the trade because of the huge uncertainty of holding it over the weekend.
If I was wrong, the magnitude of losses due to this large gap would’ve caused some damage.
My opinion for now is not to touch any EUR pairs for these 2 weeks due to the Elections and any surprise outcome will not respect any technical or fundamental understanding.
The gap has already done its damage to accounts and chart patterns; give it time to settle down and reshape.
Trade safe and trade well!