A reversal day today - Forex News by FX Leaders

A reversal day today

Posted Tuesday, May 3, 2016 by
Skerdian Meta • 1 min read

Yesterday the US Dollar followed last week´s downtrend and lost about 100 pips across the board. This morning the downtrend extended and the USD accelerated the losses. But around midday, everything reversed. The Buck has now claimed back all of this morning´s losses and it is up for the day in some pairs. The Pound and the Canadian Dollar are the biggest losers today and they find themselves about 250 pips below the highs this morning. We warned you earlier today; the way the market is behaving everything can turn around in a blink of an eye.

GBP/USD is 120 pips down for the day after being 100 pips up 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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