EUR-USD Marks The Biggest Weekly Gap Since The Currency Circulation

The euro-dollar pair has the biggest weekly gap gain since the currency circulation and the price is above the 200-day MA. For this move to continue we need to stay above the 200-day MA.

Euro/Dollar Dust Settles At 1.0937

The euro gapped higher against the dollar over the weekend and rallied all the way towards the level of 1.937 after the French elections results. This is the point where the dust has settled and only a few traders are willing to keep the risk on the table beyond this trade.

We do think, that the current trade still has a potential to break above this level and there are chances that we break the level of 1.10. But, in order for the current momentum to continue, we need to stay above the 200-day moving average. That would assure traders that there is enough momentum in this trade.

If we break below the 200 day, moving average, the odds are skewed in a favour that we could close the weekend gap and the price could find the support near the 50-day moving average.


If we drill further down into the importance of the weekend gap for the euro/dollar pair, it shows that this was the widest gap from its previous close since the invention of the common currency. Nonetheless, the significant factor is the close of the candle which we mentioned above.


The following two tabs change content below.
Think Markets

Think Markets

Breaking market news, daily insights and analysis from in-house experts at ThinkMarkets
ThinkMarkets is a FCA and ASIC regulated online broker for forex, CFDs and commodities trading, providing leading technology to traders around the world.
Think Markets

Latest research from Think Markets (see all)


EUR-USD Marks The Biggest Weekly Gap Since The Currency Circulation


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: