Euro Ignores the Data and Gives Us a Morning Surprise
Skerdian Meta • 1 min read
Europe didn´t start the day very well regarding the economic data. German trade balance missed expectations and the French industrial production declined for the second month. The German wholesale prices also declined from last month.
For us, it´s been a good morning so far though. Despite of the negative numbers from the Eurozone this morning, the Euro is surging and it´s pulling up all the Euro pairs.
We WTI (US oil) signal just hit take profit a few minutes ago, while the EUR/CHF signal did that in the early hours of the morning. We opened that forex signal last evening when this forex pair dived after the initial surge.
The negative economic numbers from the Eurozone should have sent the Euro down, but after taking a quick looking around I see something stirring in France. The pro EU French presidential candidate Fillon was almost out of the race and his campaign manager left the ship a few days ago.
Juppe is backing Fillon now and has said that he will be Fillon´s sponsor as well. I´m not sure if and how much his chances will pick up due to this, but Euro is feeling the new found love.
By the way, the Kiwi and Aussie have retraced up against the buck and both these forex pairs are below the 50 SMA on the hourly chart, so I´m thinking of opening a sell signal here, since we´re all clear with forex signals.