The pair EUR/USD has started the week with a gap bearish yesterday evening, opening at 1,1899 after a fence 1,1947 Friday night.
Note, however, that after the opening, the EUR/USD pair has very quickly started to bounce up to the top of a 1,1934 during the night, and could still earn a few pips in the goal of totally filling the gap.
In regards to the info at the start of week bearish displayed by the Euro Dollar, we can respond to new information about the German elections, with a victory of Merkel with less advance than expected, but especially with the rise of political parties extrèmistes, and, in particular, AfK, in the polls.
Against this backdrop, the EUR/USD pair has slightly dropped this morning at the opening, and the testing of 1.19, and then quickly regain ground, but without filling the gap opening.
In fact, that the pair found a profile more bullish and that we can take the risk to short-term purchases, we should be able to observe a confirmed return above 1,1950, in this case a next goal to 1,1985-1,20.
For the reduction, it is necessary first of all that the pair is able to maintain sub of 1.19, but this is only in the case of breakage under 1,1870 that we could talk about signal a technical bear market.
In regards to the economic news, this Monday will be especially marked by the publication of the IFO index of business climate in German, at 10 am.
Currently, the EUR/USD pair hovers around 1,1930 on the Forex.
Chart EUR/USD H1
See also our charts EUR/USD in real time.