Technical Analysis can not predict in wich direction this move will go.
Yesterdays Charts can´t what will happen on Monday April 24th 2017 or on Monday 05/08/ 2017. The result of the France Election will be to powerfull and is going to trigger the next major move for global stockmarkets. Whoever is able to predict the result of the France Election will beat the markets.
This page lists public opinion polls in connection with the 2017 French presidential election, which will be held on 23 April 2017, with a run-off on 7 May 2017 if no candidate secures an absolute majority of the vote in the first round.
24 % LePen
23 % Macron
20 % Fillon
18 % Melenchon
But same time the Spread Italien Government Bonds to German Bunds is sky rocking:
Quote: By Jeremy Gaunt
LONDON (Reuters) - If Donald Trump's election in the United States and Britain's decision to quit the European Union stirred the global economic waters, then there is the potential for a tsunami on the near horizon. The coming week is the last before the first round of France's presidential election on April 23. It has already been a barrel of surprises -- an incumbent not running, the far right in ascendance, an independent seen as likely winner, a scandal hampering the early favorite.
But the latest twist -- one with arguably the most potential global economic impact -- could conceivably see a far-left candidate, one-time communist Jean-Luc Mélenchon, make it through to the May 7 run-off against a far-right nationalist, Marine Le Pen.
The potential economic shock stems from the fact that both are against the euro and the European Union, threatening the stability and even existence of both. The word Frexit -- the Gallic version of Brexit -- has been doing the rounds. Source: https://www.investing.com/news/economic-...
The French elction now is unpredictable.
Centrist Emmanuel Macron held on to his lead as favorite to win France's presidential election, a closely-watched poll showed on Wednesday, although it showed that the first round of voting at the weekend Sunday remains too close to call. Source: https://www.investing.com/news/world-new...
Bias short term likely to be on the downside.