The EURUSD has pushed quickly to the upside for the third time and for the third time,the price tested the 100 bar MA on the 5 minute chart. You still can’t trust the buyers or the sellers in this market. Traders will be watching that 100 bar MA for clues (at 1.3092 currently).
The last move higher seems to have corresponded with a “think tank” report that there is a contingency plan for a Spanish rescue (unconfirmed). HMMM. I hope there is a plan as there seems to be a problem. Nevertheless, the market conviction remains untrusting so traders will react and they covered.
