Support and resistance levels in the primary pairs - Forex News by FX Leaders

Support and resistance levels in the primary pairs

Posted Wednesday, July 27, 2016 by
Skerdian Meta • 1 min read

EUR/USD – Let´s have a look at this forex pair first since we have an open forex signal here. 1.1000-05 has turned into a resistance level here. Above there comes 1.1020-30 and if we don´t get any big surprises today from the US durable orders and the FOMC statement 1.1050 will be the line in the sand. The first support level comes at 1.0980, 1.0950 and finally 1.09. But, if the FED decide to act today 1.09 will just be a step away. 

The 100 moving average has turned into a strong resistance level in GBP/USD

GBP/USD – As you can see from the H1 forex chart above, the 100 simple moving average in green has turned into strong resistance in the last few days. At the moment it stands at 1.3145, but it is heading down. There isn´t an exact resistance level since the moving averages are dynamic and move around, so you better follow that moving average for resistance. The support levels come at 1.3075, which is where we are right now, then 1.3050 which was the low from yesterday and finally 1.30. These support and resistance levels are here to offer us a better risk/reward ratio, but don´t bet your house on them. 

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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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