22.05 - USD will cause a lot of problems today
- by Anna K.
We have been looking at different currency couples, but it seems that we haven’t been paying enough attention to the source of all of the turbulence – the US dollar. Yesterday we saw dollar took a tumble which allowed a lot of traders make profit from the EUR/USD sudden spire. But today the situation is different. After a sudden sell-off USD is seeing the rebound in popularity. Even though the currency is supposed to be a safe haven and sees support in the hardest of times due to this status there are times like this when we simply do not know what to do with it due to the unstable position.
Like now. Even though there was a downtrend the current behavior of the greenback can be both – simply a rest stop before resuming the fall even after a recovery or small slow-down before reversing the trend. Either way being more caution with the couples including the US dollar today is not going to be something unusual.
EUR/USD, USD/CAD, GBP/USD and gold – these are the primary targets for our trading today. They might experience strong turbulence. Trading signals for these couple are going to help you make a decision.