Buy orders, sell orders, that’s how forex works - Forex News by FX Leaders

Buy orders, sell orders, that’s how forex works

Posted Tuesday, July 12, 2016 by
Skerdian Meta • 1 min read

Some people ask, what´s more important in forex, but and sell orders or support and resistance levels? In my opinion, they´re almost the same thing, because forex traders place buy and sell order at the support and resistance levels. If you have a large batch of money and you want to invest it you can´t place a buy/sell order anywhere, you´d find the best spot which usually is where support and resistance levels are. 

So, let´s have a look at these levels. In EUR/USD faces strong resistance level at 1.1120, that´s why we just opened a sell forex signal there. Above there comes 1.1150 and 1.1180. Support levels are at 1.1050 where the 50 moving average is on the hourly forex chart then 1.10215-20 which was the low yesterday and ultimately 1.10. If 1.10 gets breached, which seems unlikely with the positive market sentiment this morning the 1.09 will be the line in the sand in the short term. 

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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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