EURUSD opened with a positive gap on Monday after Le Pen’s far right party dominated the first round of the election on Sunday with a smaller margin than analysts expected, increasing speculation that an absolute majority on July 7 might be a struggle for the Euro-sceptic party. The pair ran to an almost three-week high of 1.0742, but the 20- and 50-day simple moving averages (SMAs) kept the price action limited. Also, a close above 1.0788 and the nearby 200-day SMA is still required for an advance towards the 1.0850-1.0885 constraining territory. Beyond the latter, the price could experience a significant ... (full story)