Yesterday in the European session EUR/USD placed a base in the 1.1390-1400 region and had a go at the resistance. It broke 1.1450 and reached 1.1467. But that was it; the price quickly turned around and fell to 1.1340s. Today looks like the resistance has slipped to 1.14 from 1.1450. The price retraced to 1.14 from yesterday´s lows but couldn´t move above it. The situation with USD/JPY seems to be helping too.
The 100 MA which comes at around 1.1390 – 1.14 has turned into resistance now
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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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