On the Move Again - Forex News by FX Leaders

On the Move Again

Posted Tuesday, February 28, 2017 by
Skerdian Meta • 1 min read

The Tokyo trading session has been pretty quiet today. That´s not a big surprise since the night is usually quiet, but the forex market is finally starting to show some signs of life.

EUR/USD crawled up like a snail all night to form a small retrace, but in the last couple of hours, we´ve seen that things have shaken up a little.

The 50 SMA on the hourly forex chart still remains an obstacle since this forex pair hasn´t managed to break below it. The stochastic indicator was overbought a few hours ago, but it´s heading down now, so that's a good sign for our forex signal here.

By the way, this forex pair made a dive last night to 1.0568, but that wasn´t enough for our signal and we missed the take profit by 1 mere pip.

We also closed our EUR/CHF signal manually for a 20 pip profit. Now this pair has started to move as well and it´s presenting us with another buying opportunity, but I think I will wait until the price falls another 15-20 pips lower until we reach the 1.0630s, which has been the low in the last week or so.

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