Back to where it all started
The EURUSD has moved back to where it all began as traders fight each other. The pair went down toward the lows from yesterday and the lower trend line on the hourly chart after initially shooting higher on the lower NFP, That move lower could not extend - nor could the momentum keep it below the 100 day MA at the 1.1112 level. Shorts covered, and that is what we are seeing (or saw - markets are fighting it out)..
The bar room brawl continues as the Fed debate rages. Will the Fed blink and stay the course or will the Fed start a "well we have to start somewhere why not now" tightening. The Fed is wondering what to do now. They are in the corner and traders may feel the same way.
Watch for support at the 100 day MA.
