EURUSD hangs above and below 100 day MA ahead of retail sales

Technical Analysis

Author: Greg Michalowski | eurusd

100 day MA at 1.12687

The EURUSD traded above its 100 day MA today until the last 4 or so hours. The price finally fell below and reached down tot he June 7 low.

EURUSD on the hourly chart.

As the market awaits the retail sales, the 100 day MA will be a barometer for the bulls and the bears.  

On a move above, the 200 hour MA (green line t 1.12855 will be the next upside target followed by the 100 hour MA at 1.1302 (a broken trend line is a few pips below that level).

On the downside, moving below the 1.12508 will next target will ebt he 1.12312 (50% of the move up from the May 30 low. 

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose