Will the Old Teflon Join the Pack? - Forex News by FX Leaders

Will the Old Teflon Join the Pack?

Posted Friday, March 3, 2017 by
Skerdian Meta • 1 min read

The Euro has been out of sync with the rest of the major currencies today. GBP, AUD, NZD, CAD and even the JPY all have continued yesterday´s slide, after a small pullback during the Tokyo trading session.

Of course, the reason for this were the French polls. One of the pro-EU runners up (Fillon) looks to have reached his limits, which means that most his supporters will move to the Macron. One of the polls today already put Macron ahead of everyone, so that´s the reason for today´s jump in Euro pairs.

EUR/USD reached as high as 1.0572, just enough to hit the SL of our forex signal in this pair. That´s a relatively strong resistance area so we opened another sell signal up here because it looks like this jump is now over. At least, our EUR/CHF signal reached take profit during this small Euro surge.

The highs are not far away from these levels

The US non manufacturing PMI which was just published beat expectation fair and square and edged up another point, to 57.6. That´s a really good reading, so hopefully will win this signal. This forex pair is already starting to slide lower, so it looks good at the moment.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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