It’s The Turn For the Euro To Jump - Forex News by FX Leaders

It’s The Turn For the Euro To Jump

Posted Thursday, July 6, 2017 by
Skerdian Meta • 1 min read

A few hours ago, GBP/USD jumped around 60 pips and it pulled EUR/USD higher as well. EUR/USD climbed to the 100 SMA on the hourly forex chart, while both technical indicators at the bottom were overbought.

So we decided to open a sell forex signal at the 100 SMA. It seemed like a good opportunity at the time, but the US economic data was coming, so there was a bit of risk in this trade.

The previous candlestick looks bearish, so hopefully, we´ll see a reversal soon

The US ADP non-farm employment change declined this month, while trade balance and unemployment claims came out pretty close to expectations.

There was a little weakness in the USD after the miss in employment numbers, but that didn´t hurt the Dollar. The ECB meeting minutes were released as well today and they sounded a bit hawkish.

They discussed removing easing bias. That sounds very hawkish at first, but they just discussed it, it´s not like the ECB is taking any actions tomorrow.

Besides, the rhetoric has shifted from dovish to hawkish in the last few months, so that´s not such a big surprise, hence the small jump in EUR/USD.

Right now, the price has stalled and our forex signal in this pair is still alive. By the way, we closed our AUD/USD signal manually just now for some nice profit.

New Instruments in Our Forex Signals Service

We’ve recently incorporated some exciting new financial instruments into our trading signals service -gold and crude oil. We will add more instruments soon, such as CryptoCurrencies, so keep an eye out for analysis on these new instruments.

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
The [[WTI]] crude oil prices managed to extend its bullish overnight rally and hit the intra-day high level around above mid-$42.00, mainly
18 hours ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of