Finally a breakout, or is it?

Posted Tuesday, May 24, 2016 by
Skerdian Meta • 1 min read

EUR/USD has been trading in a tight 30-40 pip range since Thursday, between 1.1190s and 1.1230s. It´s been boring as hell because this has made other pairs numb too. But this morning the range was broken to the downside. The price right now is at the 1.1170 region, which is not a long way from the 1.1180-90 support level. So, it has to stay below this support level in order to be considered as a true breakout, otherwise it won´t count if the price moves back above 1.12. 

Is this breakout real?

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