7+ days below the 100 hour MA
The EURUSD is lower on the day and continues to scrape along a lower trendline. That generally comes in at 1.1344. The early European session low stalled at that line. On Friday, there was a little crack below the line, but that failed. So there is modest buying against the risk defining line.
ON the topside, the pair has remained below its 100 hour moving average for over 7 days now. Yesterday and on Friday, the pair sniffed the line but did not "really" test it (see blue line in the chart above). That MA comes in at 1.1380 currently (and moving lower).
The sellers or more in control, with a break of the lower trendline eyed as the next target to get to get to and through. A break below opens up the downside for more selling with 1.1324 a target trendline on the daily chart.
