The Euro is an incredibly popular asset among binary options traders, and for good reason. Not only is the currency one of the largest in the world, it represents several different countries in the economic region known as the Eurozone. As a result, the currency tends to present several opportunities. However, now, more than ever, is the time to keep an eye on the Euro. With presidential elections in France nearing a close, we could see some big movement here. Today, we’ll talk about why the elections are such a big deal, what the story has to do with the Euro, and what binary options traders should be watching for ahead.
Elections In France Could Be Very Bad News For The European Union
As mentioned above, now, more than ever, is the time to watch the euro, and for good reason. The French presidential elections are underway, and many believe that the fate of the European Union lies in the results of this election. So, what’s the big deal?
The big deal is who is running. In particular, one of the candidates is the source of major concerns. Her name is Marine Le Pen. You see, Le Pen strongly believes that being part of the European Union is holding France back. As a result, if elected, she plans on converting France into a national state rather than a member of the Union.
That could be overwhelmingly bad news for the EU. Think about it. At the moment, the EU is already dealing with the Brexit, under which, the UK has made the decision to leave the Union. This alone is enough to weaken the European Union, and is leading to major concerns with regard to the future of the economic region.
When the UK announced that it would be moving forward with the Brexit, one of the big concerns was the Brexit turning into a domino effect, and others making the decision to leave as well. If Le Pen does become the president of the France, chances are that the domino effect will begin.
What Does This Have To Do With The EUR
At first glance, it may seem as though the French presidential elections have little to do with the EUR. However, that couldn’t be further from the case. Considering the Le Pen plans on turning France into a national state, if she makes it to office, she will likely weaken the European Union in a big way. Considering that a currency can only be as strong as the economy it represents, if Le Pen does lead France away from the EU, chances are that the EUR will take a bit of a dive.
What Binary Options Traders Should Be Watching For Ahead
Moving forward, binary options traders should be keeping a close eye on the EUR as it’s likely to present several opportunities for profits ahead. However, if you want to turn these opportunities into money in the bank, you’re going to need to keep a close eye on the news. In particular, pay very close attention to the French presidential elections. As you can see from the information above, if Le Pen does make it into office, things can get pretty bad for the EUR, and it can happen quickly. However, that’s not the only story to follow. Continue to keep a close eye on the Brexit as well. Any updates in either of these stories will likely lead to movement in the currency.
What Do You Think?
Where do you think the EUR is headed moving forward? Join the discussion in the comments below!