EUR/USD accumulation stop loss triggers before rise

10 thg 11, 2014

EUR/USD price accumulated between 1.23698 and 1.24061 and rose at 8:50 am EST. Many traders may have looked at 1.234061 as support area and placed long positions. Between 8:30 am to 8:50 am EUR/USD decline due to increased supply over demand causing many long positions stop loss triggers, which added more sells/ supply. As the market played out from 12:00 a.m to 8:35 a.m EST price increased from 1.23698 to 1.24129 with many traders have stop losses placed and raised higher to cover profits. Referencing real volume indicator and transaction indicator from FXCM platform revealed that with 30 min candle starting 8:30 a.m EST had the highest level of volume and transaction with price action range 84.5 pips. Long position traders stop loss were triggered between 8:35 a.m to 8:50 a.m