EURUSD price action slows down

Technical Analysis

Author: Greg Michalowski | eurusd

Still hanging above its 100 day MA though

The EURUSD moved above its 100 day MA at 1.10707 earlier in the day and stalled with some price action above and below the MA level. However, the price did base near the level and found more buyers that took the price toward teh November highs at 1.10894, 1.10924 and 1.10965. The high price stalled at near the first level and backed off.

Still hanging above its 100 day MA though

The fall has taken the price back to the 100 day MA, but has found support buyers near the level.  

Overall, the bulls/buyers remain in more control above the 100 day MA. The old highs remain targets on more upside.   A move back below the 100 day MA could see more liquidataion with the 1.1051-55 area as a target on the downside.    

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