Dollar Back on Its Feet. We Remain Bullish - Forex News by FX Leaders

Dollar Back on Its Feet. We Remain Bullish

Posted Friday, October 6, 2017 by
Skerdian Meta • 1 min read

The US Dollar has fought back this month after declining nonstop for a long period of time. Although, this week we saw a slight consolidation, especially against the Yen, which didn’t last too long though.

Yesterday the USD buyers returned again by midday and today they are pushing further, extending the USD uptrend.

 USD/JPY has taken out yesterday’s highs after the U-turn

The Australian Dollar has made another leg lower against the USD. Yesterday, the Australian retail sales came out negative which sent the Aussie about 40 pips lower, so that same scenario is taking place this morning as well.

The US employment report which might send us in any direction is due later today. But the price action tells us that the market is leading on the USD side. So, I will be looking to buy the USD against all majors today, just waiting for a retrace.

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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.
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