The 200 bar MA on the 4 hour chart helped stall the fall
The EURUSD moved lower to start the week.
Looking at 4-hour chart, the pair fell toward the 200 bar MA on the 4-hour chart at 1.17924. It also fell below a broken trend line at 1.1788. The low price reached to 1.1786 and bounced. If the buyers are to stay in control this week, watch that area. Hold and the buyers can probe higher. Move below and some of the bullish bias seen over the last two weeks could see more downside momentum
The price is currently trading near the 50% midpoint of the move down from the September 1 high at 1.18111 (just below now at 1.1806). More momentum above that level would be helpful to a more bullish bias.
On the topside, the high from last week and today reached between a swing area between 1.18255 to 1.18304. That area will be a key area to get and stay above if the buyers are to take more control today/this week.
For now, the pair sits between those areas and waiting for the next shove.
