Wednesday, November 25, 2015



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The 1.06 level finally had to let go

Yesterday we wrote in this market update section that the 1.0590-1.06 level was providing support to the EUR/USD decline, but is seemed vulnerable since the price had several tries to break it. Well, that support level is finally gone now and we have fallen as low as 1.0540s. The price has retraced back up to the 1.0590 region, but has been unable to break above, so it seems this level has turned into resistance now. Although we will wait for 1.0630-40 to open a sell signal. 

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