EURUSD tries to form a resistance level just above the price
Analysing Forex from The Market side & perspective.
This pair has been sideway for a day. The Market tried to increase trading volumes by attracting more buyers and sellers to open positions. After the trading volumes is high enough, The Market stopped out both positions for its own profit. Now, there is no trader positions left at the moment and The Market needs to increase new trading volumes. For prediction, EURUSD might go down to form a resistance level just above the current price so traders will open sell positions there.
This pair has been sideway for a day. The Market tried to increase trading volumes by attracting more buyers and sellers to open positions. After the trading volumes is high enough, The Market stopped out both positions for its own profit. Now, there is no trader positions left at the moment and The Market needs to increase new trading volumes. For prediction, EURUSD might go down to form a resistance level just above the current price so traders will open sell positions there.
