At the open of today’s European session, major central banks announced a coordinated move to improve liquidity conditions in the global financial markets. The EUR/USD rose in response and managed to break above resistance of the 100-pip range which had defined the pair’s previous 12 hours of price action. A 100-pip trade was the outcome for traders who executed a long trade entry at the re-test of resistance, then took profit at the daily M4 pivot point.

JARED