European “Anti-Russian” Alliance Poised to Collapse

The political fever in France is coming to an end: the first round of the elections will take place on April 23. The result may significantly influence the state of the world.
According to polls ahead of the first round, four candidates are in the lead, three of whom are “pro-Putin” and favor dialogue and partnership with the Russian Federation. They are the leftist Jean Luc Mélenchon, the far-right Marine Le Pen, and the republican François Fillon.
Emmanuel Macron, formerly the Minister of Economy and Industry, is the loner in this pack. He advocates challenging the “dangerous” policy adopted by the Russian leader. Polls show that Macron is fairly popular among French voters, but polls and real elections results are two different things.
Many investors, wary of the worst case (the leadership of Marine Le Pen or François Fillon), closed their positions Friday.
The EUR/USD pair was trading between 1.068 and 1.073 during the last trading session of the week, right at the 50% Fibo retracement level. The near-term targets for the pair will of course depend on the political landscape. If Macron takes a solid lead, the price will rise to 1.0750. If the results are negative for the West, the pair may fall to 1.065.

Olga Potapenko, Olymp Trade Analyst

Olymp Trade Review