Into the Friday afternoon wildcard period
The EURUSD has corrected lower in the last hour or so of trading and did the right "technical thing"....It bounced off the 200 hour MA. It may have helped to have the 200 and 100 bar MA from the 5 minute chart at the same area and the 38.2% of the move up from the low.
Going forward into the Friday afternoon session, the market is subject to the whims of the flows, the stock market, perhaps oil prices. The stocks are back positive with the S&P up modestly at 1947.58. The Nasdaq is up 0.35%. While the Dow is up 49 points or 0.29%. Oil prices are up to $33.49 after being as low at $32.00. Technically, the bias is bullish above the aforementioned support. Below that there is other support at the 1.0853 level. You can see that in the chart above. On the topside the 1.0898-029 remains a resistance area. We went above but the area will is key for me.
