Falls below trend line target and MA/retracement. Range near 22 day average now.
The EURUSD start the New York session with a 30 pip trading range. At the time I said:
Remember there is room to roam today. Keep your eyes open for a momentum break (in either direction). We may not get to the 22 day average range of 94 pips, but is unlikely that we and with a 30 pip trading range for the day either.
That trading range is now up to 88 pips. The 22 day average is 94 pips. Non trend transitions to trend. That is what happened (see post at the start of the day).
The last run, took the price below its 100 hour moving average 50% retracement near the 1.1873 level. The low extended to 1.18639. That was between swing highs and lows between 1.1861 and 1.1867.
With the range within 6 pips or so of the 22 day average, and testing a support cluster between 1.1861 and 1.1873. There should be some support buyers on the test with stops on a break below.
Non trend transitions to trend.
