US Economic Data Comes Mixed, the Dollar Gets Confused - FX Leaders News

US Economic Data Comes Mixed, the Dollar Gets Confused

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

The US home sales missed the expectations a while ago. The Chicago consumer sentiment on the other hand exceeded them, which makes this round of US economic data a mixed bag. 

Not that the economic data has much to say in the forex market nowadays (unless it's something really important), but the Buck seems sort of confused. 

EUR/USD dived to 1.0560s from 1.0620 and USD/JPY jumped to 112.40s. Remember that this level used to be strong support until a while ago, so it will likely provide some sort of resistance now. We might as well open a sell forex signal up here. 

Anyway,  EUR/USD recuperated half the losses after the initial wave of selling, but it's slipping down again now. So, hopefully our signal in this forex pair reaches its TP target soon. 

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About the author

Skerdian Meta is our 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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