Mind the Short Squeeze - Forex News by FX Leaders

Mind the Short Squeeze

Posted Thursday, December 29, 2016 by
Skerdian Meta • 1 min read

We had two closed forex signals on Tuesday and Wednesday and we have two open signals today, but I'm hesitating to open another one. The best odds are in EUR/USD since the price in this forex pair is just below the massive 1.05 level.

That said, the turnaround has been so violent today that I'm not trusting any support/resisance levels right now. We're now more than 120 pips above yesterday's low. No one knows why these sort of moves happen, maybe a large transaction from an international company which is being magnified by thin liquidity in the forex market. So, we're just nursing our AUD/USD signal for the time being.

By the way, our EUR/CHF signal just hit take profit. This surge in Euro pairs didn't go wasted after all. Another 25 pips added to our account for December.

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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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