In Asia today the trading ended with a negative trend in most of the leading stock exchanges, at the background of the falls in prices on Wall Street last night.
Yesterday, the London Stock Exchange shed 2.5% on the day after Prime Minister May announced that the elections would be held on June 8, and this morning the British stock exchange is down 0.2%.
This coming Sunday, another event is expected to shake Europe in particular and the financial markets in general – the first round of the French presidential elections.
The continued tension between the US and North Korea also does not add health to market players.
On the daily chart the pair reached the 100.0 level of the Fibonacci Extension (around 108.50) completing a double wave down.
There is a bullish divergence at MACD which can be a sign of the end of the trend.
What can we do from here?
Our trigger for a buy CALL options would be in a lower time frame.
On an hour chart the pair broke above a downtrend line (108.80)
We can try and enter the trade from this point.