Approaches 100 bar MA on intraday chart
The EURUSD got the bounce off the patient support level and is now pushing up testing topside trend line and 100 bar MA on the 5 minute chart. The price has been below the 100 bar MA for the entire NY session. Of course the MA is heading lower but it can provide some reason to slow..
Looking at the hourly chart now, the pair spend a brief moment above the 200 hour MA today and a brief moment below the 100 hour MA on the downside. The distance between the two goal posts is 73 pips. We could ping pong between the levels now, with traders eyeing a break for the next clues. But it seems that was might be in store for some up and down non trending action. The 1.0923 area would be a target above to expect some selling if the 100 bar MA on the 5 minute can be broken...
