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Why EURUSD 1.10 Is So Important?

Why EURUSD 1.10 Is So Important?

5 Years ago | March 05, 2015 00:00:00

I still find it amazing that psychological levels, such as 1.10 or USDJPY 120 can be so significant in an electronic world where algos and automated trading can have a large influence. The EURUSD 1.10 level, currently under attack, has no technical significance but is one of those major psychological levels that can be even more powerful than any chart point. Whatever the case, what I call magic levels, such as 1.10, continue to be as strong an influence as they were decades ago when psychology was at least as important as technical analysis in dictating market sentiment,

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