Strange Morning Moves

Posted Thursday, March 9, 2017 by
Skerdian Meta • 1 min read

Yesterday, EUR/USD was been pretty quiet while the rest of the forex majors kept sliding against the Buck. I didn´t really understand why this was happening, but now that I´m looking at the forex calendar, I see the ECB (European Central Bank) has a meeting scheduled later today.

So, that might be the reason that this forex pair has been dull all day. On the other hand, nothing is expected to happen today in that meeting. There will be no interest rate or monetary policy decision, but they can hint at a change for the near future, so that´s probably the reason for the Euro freeze in the last few trading sessions.

That said, Euro pairs are making a move right now; EUR/USD is climbing higher while the other major forex currencies are sliding. That goes in favour of our forex signal in EUR/CHF, actually. This pair is crawling closer to the TP target, since USD/CHF is stagnant while EUR/USD is climbing.

By the way, I´m looking to open a sell forex signal in EUR/USD about 20 pips higher, around the 1.0580 level or perhaps 1.06 if we get there. That´s been providing some sort of support and the 200 SMA is hanging around there on the hourly chart. So let´s wait until the price gets there. 

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