Trying a Euro Short - Forex News by FX Leaders

Trying a Euro Short

Posted Wednesday, November 8, 2017 by
Skerdian Meta • 1 min read

Before going to bed last night, I left a pending order for a sell forex signal in EUR/USD at 1.1610.

I got the idea to open an order for EUR/USD because it has shifted from an uptrend to a downtrend and has picked up the pace in the last few days. Also, the ECB turned the Euro dovish despite their improving economy.

Trying our luck up here.

You can see from the chart, previously 1.1610 to 1.1625 was in support, but now it is providing resistance.

The 50 SMA (yellow) is also hanging above and is slowly moving down. So, that moving average is guarding this area just in case Euro buyers try anything funny.

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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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