Earlier in the week I got all worked up about the bullish cross in the 10 and 21 day moving averages in EUR/USD. What I failed to notice was the bearish cross in the 100 and 200 day moving averages today. I don’t know too many folks with pockets deep enough to react to slow-to-react signals like bearish crosses in very long-term moving averages but it is probably worth considering as a warning sign should the rally falter in the days ahead.
One other level to keep in mind next week is the 1.3837 level, the23.6% retracement of the 1.5142/1.3433 decline.
