A few levels for this August morning - Forex News by FX Leaders

A few levels for this August morning

Posted Wednesday, August 17, 2016 by
Skerdian Meta • 1 min read

Good morning guys. How was your trading yesterday? Here at fxmarketleaders we made a small profit and if you have followed our forex signals you must have closed the day in profit too. Anyway, it is a new day with new opportunities to trade forex and make a few pips, so let´s have a quick look at the support and resistance levels in a couple of major forex pairs since there´s been a substantial move in these pairs yesterday.

EUR/USD – This forex pair surged from 1.180 to 1.1320 yesterday before retracing down to 1.1260s where we can find it right now. The first resistance comes at 1.1280-90, then 1.1320 which was the high yesterday and then 1.1370-80 all the way up to 1.14. Support comes at 1.1250s which has held the price up so far today. Below it comes 1.1220-30 where we can find the 50 moving average on the H1 forex chart and finally 1.12.

GBP/USD – This forex pair made an epic move up yesterday from 1.2870s to 1.3070 this morning, which has brought into play other support and resistance levels. The first resistance level comes at 1.3070-80 which is the high today and where we can find the 200 moving average on the H1 forex chart and 1.3100-1.3110 which is a strong resistance level. We can find the first support level at the 100 moving average on the H1 forex chart around 1.2950 and then 1.29 which is a pretty strong support level before we reach 1.28.

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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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