10 cents is always a huge barrier to get over and maintain, nothing new there
lot's of people jump in when they think it's going to get over 10cents to try and pip trade the 5%+ per pip, but what usually happens is all those morons then stack the sell side the next few pips up which causes the price to often struggle to push and hold above 10 cents, and once it starts turning south instead while the buy side depth is shaky it results in many of those nervous pip traders bailing at a loss and pushing the price down even further.
Look at the prop @ .097 right now that is trying to help maintain the push, he keeps having to move his prop around to make sure he doesn't get hit.
Anyway FA wise the story is pretty good here, so those that aren't trying to pip trade should be right eventually
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8 | 314408 | 0.099 |
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