| The EURUSD has moved sharply higher but over the last few hours has stalled against a key resistance area.
After a big daily move, it becomes harder for a currency pair to extend higher – at least on the day. Traders who rode the trend are happy to take profit. If profit taking can be a technical level – like a retracement level – all the better. Risk can be defined and limited by those looking to cash in (in this case sellers), as well as those traders who are looking to lean against an extreme. This video explains this dynamic as a battle erupts. If you like this video, click thumbs up. If you don’t feel free to give it a thumbs down. |
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