$US fell below the 0.008 level.
A newbie asks: Where do key price levels come from?
There are usually plenty of stop-loss orders clustered around key levels. If the price moves beyond one, those stops can all be triggered at once, often causing volatility to spike suddenly.
When the price returns to a level after several days away, it often encounters people who entered the market there earlier, either closing their positions to break even or adding to them. Trading activity usually picks up as a result.
All indicators merely summarize price movements that have already happened. The market can always move in the opposite direction.
A newbie asks: Where do key price levels come from?
There are usually plenty of stop-loss orders clustered around key levels. If the price moves beyond one, those stops can all be triggered at once, often causing volatility to spike suddenly.
When the price returns to a level after several days away, it often encounters people who entered the market there earlier, either closing their positions to break even or adding to them. Trading activity usually picks up as a result.
All indicators merely summarize price movements that have already happened. The market can always move in the opposite direction.