{"id":13743,"date":"2024-06-25T13:00:25","date_gmt":"2024-06-25T13:00:25","guid":{"rendered":"https:\/\/www.vtmarkets.net\/?p=13743"},"modified":"2025-03-06T06:58:19","modified_gmt":"2025-03-06T06:58:19","slug":"forex-market-analysis-eur-usd-steady-amid-french-election","status":"publish","type":"post","link":"https:\/\/www.vtmarketsglobal.com\/en\/analysis\/13743\/","title":{"rendered":"Forex Market Analysis: EUR\/USD Steady Amid French Election"},"content":{"rendered":"\n<h1 class=\"wp-block-heading has-medium-font-size\">CURRENCIES<\/h1>\n\n\n\n<p><strong>EUR\/USD analysis:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EUR\/USD stabilizes above 1.0700 despite political uncertainty.<\/li>\n\n\n\n<li>Trades below 200 SMA; lower bound at 1.0643, April low at 1.0600.<\/li>\n\n\n\n<li>Key events: US GDP data and PCE on Friday.<\/li>\n<\/ul>\n\n\n\n<p><strong>Bond spreads:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European bond yields in focus ahead of French elections.<\/li>\n\n\n\n<li>French-German 10-year spread rose to ~80 basis points.<\/li>\n\n\n\n<li>Potential euro pressure if EU bond spreads widen significantly.<\/li>\n<\/ul>\n\n\n\n<p><strong>French election polls:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Marine Le Pen&#8217;s National Rally (RN) leads with 33% in the first round, unchanged from the previous survey (Toluna Harris Interactive).<\/li>\n\n\n\n<li>Left-wing coalition NFP rises to 27%, Macron&#8217;s party drops to 20%.<\/li>\n\n\n\n<li>Projections:\n<ul class=\"wp-block-list\">\n<li>National Rally: 215-245 seats, allies (Eric Ciotti): 15-30 seats<\/li>\n\n\n\n<li>NFP: 150-180 seats<\/li>\n\n\n\n<li>Macron\u2019s party: 85-130 seats<\/li>\n\n\n\n<li>Republicans: 30-50 seats<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Ifop-Fiducial poll: RN has 36% share, potentially 220-260 seats.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\">STOCK MARKET<\/h1>\n\n\n\n<p><strong>Nvidia&#8217;s 13% stock rout: traders look for support levels<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Selloff Details: Nvidia&#8217;s three-day, $430 billion selloff has traders turning to technical analysis for support levels.<\/li>\n\n\n\n<li>Stock Correction: Nvidia has fallen 13% since briefly surpassing Microsoft as the world\u2019s most valuable company, entering a technical correction.<\/li>\n\n\n\n<li>Premarket Drop: Nvidia shares dropped another 2.4% in premarket trading on Tuesday.<\/li>\n<\/ul>\n\n\n\n<p><strong>Technical analysis insights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Capitulation Signs: Abrupt reversal with signs of capitulation, per Buff Dormeier, chief technical analyst at Kingsview Partners.<\/li>\n\n\n\n<li>Support Levels:\n<ul class=\"wp-block-list\">\n<li>Short-term support around $115.<\/li>\n\n\n\n<li>Next significant level at $100.<\/li>\n\n\n\n<li>$115 level near key Fibonacci retracement.<\/li>\n\n\n\n<li>38.2% retracement from April&#8217;s intraday low to recent high is about 2% below Monday&#8217;s close.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Long-term Trend:\n<ul class=\"wp-block-list\">\n<li>Ari Wald (Oppenheimer): Long-term trend strong, above 50-day moving average ($101) and 100-day moving average ($92).<\/li>\n\n\n\n<li>Bruce Zaro (Granite Wealth Management): Breaching $100 could signal a need for patience amid market volatility.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Recent performance:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stock Surge: Nvidia soared this year due to high demand for AI chips.<\/li>\n\n\n\n<li>Recent High: Stock rose 43% from May 22 earnings report and stock split announcement to June 18 peak, reaching a market value of $3.34 trillion.<\/li>\n\n\n\n<li>Current Status: Despite the recent drop, Nvidia is up 139% this year.<\/li>\n<\/ul>\n\n\n\n<p><strong>Market sentiment and predictions:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ari Wald&#8217;s View: Major tops involve several rounds of buying and selling; Nvidia&#8217;s long-term uptrend remains intact.<\/li>\n\n\n\n<li>Bruce Zaro&#8217;s Caution: A drop below $100 would signal caution, especially with expected market volatility and upcoming elections.<\/li>\n<\/ul>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/\" title=\"\">here<\/a> to open account and start trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CURRENCIES EUR\/USD analysis: Bond spreads: French election polls: STOCK MARKET Nvidia&#8217;s 13% stock rout: traders look for support levels Technical analysis insights: Recent performance: Market sentiment and predictions: Click here to open account and start trading.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13743","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"luna","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/luna\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/13743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=13743"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/13743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=13743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=13743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=13743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}