All Majors Are Up but EUR/USD. Let’s Sell It

This morning, the forex market is sort of mixed. At first glance, it looks like it’s going against the US Dollar. But, the EUR/USD is little changed which means that the Euro is at the same levels s the USD, while USD/JPY is considerably higher. So, the JPY is the weakest major currency today.

Commodity Dollars are up which means that the risk sentiment is on. AUD/USD is the best performer among the commodity block since it has gained around 50 pips this morning. NZD/USD is also higher, having jumped of the 50 SMA which we highlighted yesterday. Although, we will take a better look at this pair later on.

USD/CAD seems to be stretching the downside today. We had a sell forex signal in this pair yesterday and it has closed in profit earlier this morning.

As I mentioned, EUR/USD is unchanged at a time when the USD is down. This means that there is some problem with the Euro. EUR/USD started turning bearish yesterday and today it can’t make any gains, even though the USD is not feeling very well.

We just opened a sell forex signal in this pair for this very reason. If a pair can’t go up when the Buck is feeling ill, then the chances are that it will turn down, That’s how I read the price action in EUR/USD in the last two days.