Here are some levels to help you trade - Forex News by FX Leaders

Here are some levels to help you trade

Posted Thursday, July 7, 2016 by
Skerdian Meta • 1 min read

The price action this morning in EUR/USD, GBP/USD and USD/JPY look quite choppy. NZD/USD is another story, it´s been on a one-way trip. Anyone knows what´s happening there? Anyway, we are providing you some support/resistance levels you can use to make trading safer. So, here they are:

EUR/USD – 1.1100-10 is obviously a resistance level to notice since it topped this pair yesterday and overnight. Above there we have 1.1125 which is minor resistance, then 1.1150-60 which has been a strong resistance level most of last week and finally 1.12. Below we are looking at 1.1050 since it has been a strong resistance-turned-support in the long term. After that, the 1.1020 support level was the low yesterday then comes 1.10.

GBP/USD – This pair is dangerous to trade at the moment but if you must here are the support/resistance levels. Obviously, 1.30 springs to mind as the first resistance level, then comes 1.3050 and 1.3120-30. Support comes at 1.2969 where the 20 moving average comes on the hourly forex chart, 1.2870 which was the low yesterday afternoon and overnight and ultimately 1.2790s. 

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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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