The Euro leading the decline - Forex News by FX Leaders

The Euro leading the decline

Posted Thursday, May 5, 2016 by
Skerdian Meta • 1 min read

All the majors have been in retreat against the US Dollars in the last few trading sessions as the USD bulls regroup. The Euro is the biggest loser today though since it lost more than 100 pips while the rest has been mostly consolidating. Right now the price is just below the 50 MA in yellow but in order to continue further down  the 4 hour candle needs to close below it. Then about 50 pips below we can see the 100 MA in green which is the next target, so these are the closest levels to watch.

The H4 candle needs to close below the yellow MA so it can be considered 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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