EURUSD dips to new session low

Technical Analysis

Author: Greg Michalowski | eurusd

Sellers in EURUSD move closer to cluster of support

Sellers in EURUSD move closer to cluster of support
The EURUSD moved below the 100 hour MA and had the 38.2% retracement as the first target (also lows from Monday) and then a cluster of support at 1.1267-719 area.  That cluster of support defined by the 50% retracement, 100 day MA , trend line and 200 hour MA, should solicit some profit taking with stops on a break below.

The 1.1300 level is close risk for shorts now. More conservative risk is a move back above the 100 hour MA at 1.1308. 

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