Our EUR/USD Signal Still Hanging On - Forex News by FX Leaders

Our EUR/USD Signal Still Hanging On

Posted Friday, February 24, 2017 by
Skerdian Meta • 1 min read

We opened this forex signal yesterday after the previous signal here was closed manually for about a 20 pip profit. That first signal would have reached the initial take profit target but 20 pips was enough for us at that time.

Anyway, after we closed that buy signal, we reversed the trade and opened another forex signal. This time, we shorted the Euro against the buck.

We were counting on the 100 SMA on the hourly chart and the 50 SMA on the H4 forex chart. By the way, the 50 SMA is also standing near these levels on the daily EUR/USD chart.

Well, those moving averages have held well so far. Yet this morning, the buyers were having a go at the top side, breaking above the 1.06 level briefly.

Let´s hope the green moving average goes first. 

However, in the last couple of hours, we were seeing a reverse take place. I can´t see any news to drive the market around so far today, but it looks a bit like another wave of risk aversion because the Yen pairs are diving and the risk currencies, such as the Com Dolls, are diving too.

Well, whatever it is, we hope it continues a bit longer; at least until we break below the 100 simple moving average in green so the price can reach our take profit target.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of