USD Attempting to Choose Pair - Forex News by FX Leaders

USD Attempting to Choose Pair

Posted Thursday, February 22, 2018 by
Skerdian Meta • 1 min read

The US Dollar has been climbing pretty fast in the past few days and it looks like a reversal, to be honest. The 1.25 level in EUR/USD was a decent place to open long-term forex sell signal which we might have missed.

We are still hoping to buy the USD as it’s currently in a short term uptrend. We can still make PIPs with short term forex signals even though we’re low on GBP/USD and AUD/USD.

I have been attempting to pick a trade, but the issue is, the Buck has gained quite some ground recently.

The Buck has been acting quite wild recently and the pullbacks are acting shallow proving to be difficult to pick trades. At the bottom of the signals page, we have a history table full of winning signals despite.

Yesterday, the USD made a reversal after losing about 50 PIPs immediately after the FOMC minutes and we were not able to catch it. We did, however, have a buy signal with USD/JPY which took profit.

AU/USD looks bearish and currently in no man’s land

The Buck is retracing at the moment showing potential buying opportunity. The Aussie has been one of the weakest pairs during this season, but just recently broke above the 20 SMA with no other technical indicators to provide resistance. We’ll take another look at that pair in the next update before shorting the NZD/USD.

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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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