EURUSD takes a run at the 200 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

EURUSD falls below support targets and makes a run

The EURUSD fell below the 200 bar MA on the 4-hour chart at 1.12268, the 100 hour MA at 1.1221 and 50% of the move up from Thursday's low at 1.12179 (that was swing levels as well).  

EURUSD trades down to the 200 hour mA

Those break, turned buyers to sellers (and invited new sellers), and the price scooted to the next target at the 200 hour MA at 1.12049.  Traders traded, and leaned there.

What next?

Well, we trade between the 100 hour MA above at 1.1221 and the 200 hour MA below at 1.12049.  The next battle is on with sellers from above feeling ok and buyers against the 200 hour MA felling ok too.  

This is what happens in this type of uncertain market. There are lots of ups and downs (PS its a head and shoulders on the hourly too). Then you get a break, and the flow of funds swings (until the next target).  

Traders are trading.  So pick your spots and stay on your toes.

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