Big Gap In The Market Brings Big Profits
Yesterday the French people voted for their new president, so I waited to see the forex prices when the market opened for the Tokyo session.
The centrist and independent candidate Macron won the first round and will likely win the second one as well, so everyone was eager to see the opening prices in forex.
Well, almost all forex majors opened with a huge gap. Obviously, the Euro was the biggest beneficiary with EUR/USD opening with a 200 pip gap last night.
We didn´t have an open forex signal in this pair because the risk was too great, but we had a couple of signals in EUR/CHF.
Polls were putting Le Penn in front the entire time until the last votes were counted. Imagine if she had won by a large margin, which would have suggested another victory in the second round. The Euro would have opened with an even bigger gap, but on the downside.
Luckily, Macron won and the EU is safe. Risk sentiment improved immensely and safe haven currencies such as JPY and CHF tumbled.
Will the gap be filled now?
We had two open forex signals in EUR/CHF, a long term and a short term signal, both of which closed in profit. We also opened a buy forex signal in USD/JPY right above the 200 SMA on the hourly forex chart, during the retracement down after the big upper gap.
That signal also hit TP this morning. So although our AUD/USD sell signal opened with a loss, last night was pretty good for us. We hope all week goes like this for us and right now we´re scanning the forex market for other trading opportunities, so bear with us.
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