EURUSD’s zone of interest after German election
Polls have now closed in Germany’s parliamentary elections.
Exit polls indicate Friedrich Merz’s center-right Christian Democratic Union (CDU) has secured a clear victory, positioning him as Germany’s next chancellor.
The far-right AfD is projected to achieve its best result yet, currently in second place with 20.2%, nearly doubling its 2021 support. However, the Bundestag’s composition remains uncertain, and Merz has ruled out cooperation with the AfD.
Prolonged coalition talks could lead to a government divided on economic recovery and international policy, which could be bearish for the euro. With this in mind, the 61.8% to 50.0% Fibonacci zone could be an area of interest (to begin with at least), which coincides with flattening longer moving averages.
Exit polls indicate Friedrich Merz’s center-right Christian Democratic Union (CDU) has secured a clear victory, positioning him as Germany’s next chancellor.
The far-right AfD is projected to achieve its best result yet, currently in second place with 20.2%, nearly doubling its 2021 support. However, the Bundestag’s composition remains uncertain, and Merz has ruled out cooperation with the AfD.
Prolonged coalition talks could lead to a government divided on economic recovery and international policy, which could be bearish for the euro. With this in mind, the 61.8% to 50.0% Fibonacci zone could be an area of interest (to begin with at least), which coincides with flattening longer moving averages.
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Economic Calendar:
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Free TradingView Premium:
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blackbull.com/en/economic-calendar/?utm_source=tradingview
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blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.