Pop goes EUR/USD - Forex News by FX Leaders

Pop goes EUR/USD

Posted Monday, May 2, 2016 by
Skerdian Meta • 1 min read

After having several attempts at the 1.1450 – 1.15 level EUR/USD finally broke above it. The miss in the US ISM manufacturing index helped the bulls to give it the final hit. It broke without much resistance and reached as high as 1.1535. That said, EUR/USD moved back below just as quickly. We´ll see if this will turn into support now or if this was a fake break just to trigger the stops above 1.15 that we mentioned earlier. 

EUR/USD broke above 1.15 but it already dived back below it

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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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