EURUSD stop hunt above 1.1069

2 thg 6, 2015

EU was supported multiple times in previous weeks by 1994 low at 1.1069. When price broke below this line, it was seen as support-turned-resistance. This big move was likely due to huge amount of stops being placed just above this line and got taken out. Now next H4 and daily close would be important to set the short-term trend. Closing above 1.1069 would be bullish and below this would be bearish.