US Economic Data Comes Mixed, the Dollar Gets Confused

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. 

ABOUT THE AUTHOR See More

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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