Most people seem to be talking about tonight’s German vote as a potentially EUR-negative event but it seems to me that there is also the possibility for a big EUR rally tonight. The short-term leveraged market seems to be short, EUR/CHF is being supported by the SNB, and EUR/AUD has turned bullish again.
If Merkel gets an overwhelming majority tonight then we could see a major relief rally in EUR/USD.
By
M.Zohaib Gadit
Forex Trading Consultant
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