FX.co ★ Trading tips for EUR/USD

Emmanuel Macron won France's 2022 presidential elections, with a vote of 58.55% against Marine Le Pen's 41.45%.

But contrary to what was expected, EUR/USD fell amid the news, hitting a new yearly low at 1.07563 and continues to decline.

To be precise, it is currently near the 2020 low, to which 700 pips are left. Just beyond that is where medium-term buyers set their stops.

That is why it is best for traders to refrain from taking long positions, otherwise, they may fall into a trap and see huge losses. This idea is based on the Price Action and Stop Hunting strategies.

Good luck and have a nice day!