The range extends - Forex News by FX Leaders

The range extends

Posted Wednesday, April 13, 2016 by
Skerdian Meta • 1 min read

EUR/USD broke the resistance level at 1.1450 and reached 1.1467 yesterday. But it failed to stay above resistance and it soon turned south. Then it broke below 1.14 but the support at 1.1330-40 which has held the price above for about two weeks, held the ground once again and the price went up to 1.14 yesterday afternoon. Today it touched 1.1345 again and we decided to close the long term sell signal in this pair thinking that support would hold again. But the price moved below it and it reached 1.1372 today. So, the range between 1.1330-1.1450 is finally broken to the downside.

The support has finally been broken

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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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