EURUSD stays toward session lows after weaker US data

Technical Analysis

Author: Greg Michalowski | eurusd

Below MA lines

The EURUSD traded lower and to new lows into the retail sales data. There was a brief run higher on the weaker numbers but the highs stalled between a broken trend line and the brokne 100 bar MA on the 4-hour chart. That MA was tested in the London session on the way down, but was later broken. Staying below the trend line (at 1.1190 and the MA at 1.11958 keep the sellers in control today. Moves above, muddies the waters a bit.  

Below MA lines
Helping the bears today, was that at the highs, the pair stalled right at what is a key swing area at 1.126-184 area (see yellow area  and post from yesterday outlining the level).  Sellers leaned against that area, and the pushes below the 200 hour MA and 100 bar MA on the 4-hour helped to encourage more selling.   Knowing those key levels  (like the swing area), gives traders a low risk advantage. 
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