Follow the markets with Both central banks leave rates unchanged, and despite strong spikes due to rumours of resigns of Gordon Brown, both major currencies remain above strong support levels, mentioned in the live coverage. Euro failled to break under 1.4100, and Gbp hold above 1.6140 level. Strong bullish trend remains intact in the term, and majors regain the upside quite quickly. Wall Street is set to open higher. Also watch for the multiple rebounds of Usd/chf at the 1.0760 zone. Be right back with the hourly report.
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I was wondering(EUR/USD) when you state that at a certain resistance/support level, that the pair needs to break through a particular level ,how far does it need to pierce that level to have confidence in the movement of that pair??? Thanking you in advance.
Michael
Hi Michael, tks for your question. I usually consider a support or resistance broken when a new hourly, or even 30 minutes candle open above it. You can also consider an average of the 8% of the daily amplitud of a pair… if the pair moves, average 100 pips per day, then it would be 8 pips.
REgards
Val