Rebounds above hourly trend lines
The EURUSD went down and tested the 200 week MA earlier in the day, but stalled as the MA was approached. I have the 200 week MA at 1.1356. The low stalled at 1.13645 - just about 8 pips from the key MA. Last week the price fell below the 100 week MA for the first time since May 2017. That MA (blue line in the chart below) comes in at 1.1462 this week. It is risk for the shorts now.
The price has rebounded off those lows and is now trading at day highs at 1.1423 as I type. In the process, the price has moved above the trend lines - one was a broken trend line (that was rebroken). The other was the trend line connecting recent highs at 1.1397ish area. For those looking to sniff a bottom, that area is a close risk area to lean against.
