Seeing some breaks. Getting extensions.
The dollar has moved lower and in the process, trading ranges are being extended.
The EURUSD corrected to the 38.2% retracement area (see earlier post), gathered and was able to extend above the 100 hour MA (blue overlay line at 1.08756 in the chart ). The next target is 1.09423 (50% of the move down form July 14 high). The 200 hour MA comes in at 1.0965 and is another key target above if the momentum continues.
The USDJPY tested the 200 bar MA on the 5-minute chart and is tumbling to new lows (see prior post).. The next target is 123.87 and then 123.69.
The USDCAD has broken the 100 hour MA and has run down. The next target is at the 1.2904 level where the 38.2% of the move up from July 14 and the low from July 16 are found. Stay below the 100 hour MA now for the shorts from above.
What was broken, needs to hold corrections now.
