Success in forex comes from analytical skills. The better the analysis the higher the odds of success. One of the few reliable tools you can use to increase the odds of success are the support levels and resistance levels. Or as the might be called, buy orders and sell orders. So, let´s have a look at them after the miss in the US GDP numbers last Friday changed some of these levels.
EUR/USD – This pair moved from 1.09-1.10 to 1.10-11 range after the FED Meeting last Wednesday. On Friday it pushed the range higher to 1.11-12. So, the first resistance here comes at 1.12 which was the high on Friday and 1.1235 which is where the 100 moving average comes on the daily forex chart. Support levels come at, 1.1150-60 at the 200 smooth moving average on the H4 Forex chart, then 1.1120 and 1.1080.
Soon we will provide more support and resistance levels. USD/JPY, GBP/USD and a commodity Dollar currency are coming up in a minute.
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