It's Friday so anything can happen, but the lower trend line may give traders a level to take profit
The EURUSD peaked at 1.1829 on Tuesday and has been grinding lower since that time.
On Wednesday a lower trend line was tested on the hourly chart and the price corrected to the 100 hour MA and stalled.
Today the price has pushed lower in the London PM/NY AM session and has now reached the lower trend line target again at 1.1646 level. The low reached 1.16458.
There is a reason to buy against a support trend line.
The caveat is it is Friday. So anything can happen. But if traders want to take a little off into the weekend, this might be a level to lean against to see if there is a little rebound.
A move below, and traders can resell.
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