EURUSD holds against 100 day MA, and retests the broken 100 bar MA on 4-hour

Technical Analysis

Author: Greg Michalowski | eurusd

Test for the bulls and bears

As per the earlier post, the 100 day MA did in fact stall the rally at the 1.1090 leve (The 100 day MA is a "key area on a test that should see some patient sellers ... with stops on a break above"). The price has wandered lower and is retesting the broken 100 bar MA on the 4-hour chart at 1.10765.  

Test for the bulls and bears
For the sellers above, they would now like to see that MA broken and the price to move back between it and the 200 bar MA on the 4-hour below at 1.10624.  

For buyers, they would prefer to see the 100 bar MA on the 4-hour hold right here and start a move back higher toward that key 100 day MA again.  

So the battle is on against the technical MA levels. The winner willl control the bullish or bearish bias going forward. 

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