The top remains, well, on top - Forex News by FX Leaders

The top remains, well, on top

Posted Tuesday, April 12, 2016 by
Skerdian Meta • 1 min read

EUR/USD had a 40 spike this morning. It broke above the resistance which comes at 1.1450 as we pointed out in our morning update but didn´t get too far. It peaked at 1.1465 and then quickly reversed down, so I guess that spike was just a stop hunting from the evil stop hunters.  The price broke below 1.14 and we are now in the 1.1350 region. So we can say that the top is still in place. 1.1330s and 1.1300 are the next levels to break if the sellers are to remain in control.

The price briefly pierced the resistance at 1.15 but it ducked back below so it doesn´t count as a real break

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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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