1.12 is still too much for the Euro to chew - Forex News by FX Leaders

1.12 is still too much for the Euro to chew

Posted Friday, May 27, 2016 by
Skerdian Meta • 1 min read

In April 1.12 became a support level for EUR/USD. To be more precise 1.1230 was the ultimate support which has now turned into resistance and 1.1215 was a minor support which provided resistance yesterday. Today the 1.12 round level has capped the move up so it seems that the highs during the retraces are getting lower. That only means one thing, the lows will get lower too. 

The highs are getting lower in EURUSD

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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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