EURUSD cracks below the 200 hour MA. Buyers turn to sellers.

Technical Analysis

Author: Greg Michalowski | eurusd

Traders push the price below the 200 hour MA and trigger stops.

The EURUSD has cracked below the 200 hour MA after holding the level on 3 separate tests over the last 24 hours (see earlier post EURUSD continues to hold the 200 hour MA). 

The break has triggered stops which touch the price to a new session low at 1.12329.   The flip below the support, also flips the bias more to the downside now (below the 200 hour MA). The price is also below the midpoint of the up and down week's trading range at 1.12428 now. 

Traders push the price below the 200 hour MA and trigger stops.

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