A Quiet Day Expected Today - Forex News by FX Leaders

A Quiet Day Expected Today

Posted Monday, February 20, 2017 by
Skerdian Meta • 1 min read

This morning so far has been very quiet. EUR/USD has barely moved 30 pips top to bottom, while the USD/JPY has covered a massive … 38 pips.

38 pips is not a bad for a Monday morning, but we have been spoiled recently with 100-200 pips moves so it looks tight.  

GBP pairs are making a move as I speak. I don´t know whether it´s a Brexit related thing but GBP/USD is approaching an area where a number of moving averages are clustered on the H1 forex chart. 

The calendar is very light ahead with only the UK CBI industrial order expectations, which have never moved the market at the best of times.

That said, though, Brexit and Trump are always behind the curtain waiting to pop in at any moment and surprise the market, so don´t get too relaxed.

Speaking of GBP/USD again, besides the moving averages, the stochastic indicator is overbought on the H1 chart, so we´re considering opening a sell forex signal up here.

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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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