EURUSD grind lower continues and reaches 100 day MA target

Technical Analysis

Author: Greg Michalowski | eurusd

100 day MA at 1.1654. Swing lows from Sept 18 and 19

The EURUSD has continued the grind lower and now tests the key 100 day MA at 1.16543. Swing lows from Sept 18 and 19 are also in play at 1.1649.

There should be a stall at the area with stops on a break. 

Drilling to the 5-minute chart below, the pair remains well below the 100 hour MA (blue line).  The pair in addition to testing the 100 day MA, is testing a lower trend line too.   Risk is defined and limited against the area.  

See earlier post targeting the 100 day MA ("EURUSD tracks lower and eyes 100 day MA")
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