Buyer positions stopped out by a quick downtrend movement
Analysing Forex from The Market side & perspective.
EURUSD in New York trading session goes down really fast after an uptrend of 100 pips. This move means it wants to stop out all the buyer positions that are open in the uptrend and might stop out buyer positions at 1.1248 and forms a new support level in that area. Before we have any confirmations about it, we could still opne buy positions until the price goes up.
EURUSD in New York trading session goes down really fast after an uptrend of 100 pips. This move means it wants to stop out all the buyer positions that are open in the uptrend and might stop out buyer positions at 1.1248 and forms a new support level in that area. Before we have any confirmations about it, we could still opne buy positions until the price goes up.
