Monday morning levels - Forex News by FX Leaders

Monday morning levels

Posted Monday, August 22, 2016 by
Skerdian Meta • 1 min read

Here we are on another hot August morning. Last Friday the price action in the forex market was quiet choppy and there was volatility as well, so the levels have changed. Let's have a quick look at them.

EUR/USD -This forex pair broke above 1.13 last Friday and reached 1.1365, which is the first resistance level. But, before that 1.13 will be providing resistance since tha 100 moving average comes there. Then, comes 1.1325, 1.1360 and 1.14. The first support level comes at 1.1270 which is today's low so far. Below that 1.1220 comes in play and 1.1180.

USD/JPY This forex pair finally broke the long term support level at 100 and moved back up, so that is the first line of resistance, although not as strong as before. Below comes 99.60s which was the low last week and finally 99. The first resistance level comes at 100.90-101. Above there comes 101.40-50 which was last week's high and finally 102.

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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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