Forex Trader

As you can see, it’s not an easy level for the buyers and it will be interesting to see how serious they are now!? What will be even more interesting is how the sellers will react if the buyers manage to reach 111.60/80, the strong resistance area in my point of view…

Daily MA100 is placed above that resistance on 112.75 now and there could be a huge stops placed above. But, if the sellers fail to hold this area at 111.80, the sellers could try to cover their positions and 113.00 > 114.00 area could be reached easy, with strong sellers waiting again at 114.50/80. I am expecting from buyers to attack and to try to go higher and that’s why this could be a very interesting battle in this pair, keep following!