The second wave of USD selling unfolds - Forex News by FX Leaders

The second wave of USD selling unfolds

Posted Wednesday, March 30, 2016 by
Skerdian Meta • 1 min read

Yesterday the FED chair Yellen appeared at a conference in New York where she held a speech. The market was expecting her to drop some of the bearish comments that she made in the FOMC statement two weeks ago, but she stuck to them. She even reinforced them so the hopes of the US Dollar bulls were diminished and the Dollar suffered some reasonable losses. We thought that yesterday´s declines would be all so we opened an EUR/USD sell signal at 1.1303 but this morning the Buck is going through another wave of selling. Our signal is still on so we hope this USD downtrend comes to an end finally and eventually reverses.

USD/JPY has declined an additional 70 pips this morning

 

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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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