Time for a little survey
Part one of the French elections get decided Sunday and one way or another there's going to be a market reaction when markets open in Asia.
For those in the UK and Europe, remember that some brokers open up around 20.00-21.00 GMT Sunday night, right around the time the first results will be coming out, so there may be an opportunity to grab a decent trade if they don't set the early prices appropriately to the result. They usually have it well covered but you never know and it pays to be watchful for any over/under pricing.
Barring anything jarring happening in these last few trading hours, give me your guess for the EURUSD price at the open on Sunday night (Monday if you're in Asia).
I think that Le Pen is a couple of rungs too far up the extreme ladder for the French to vote for her but they could protest vote her in the 1st round, and blow her out in the second. It's all so very close though so on balance I'm going with a market favourable result and EURUSD opening up at 1.0820.
Guessing a price is one thing, trading is another, so I think I'm going to cover some of my EURUSD longs with some OTM puts around 1.0550.
So let us know where you think the price will open in the comments, and above all else, please make sure you're not gambling on this event, and that you protect your trades and your accounts. It is a big event but there's no need to be a hero, and I don't want to hear of any avoidable horror stories come Monday.
I wish you the best of luck if you're trading it, and more importantly, that it passes without any untoward incidents, and safely for you folks in France.
Let battle commence
