Keeps the sellers happy...sort of
The EURUSD correction off the lows saw traders "respect the 100 hour MA" (see prior post) at the 1.1395 level. That keeps the sellers happy, but thirsting for more. A move below the 38.2% at 1.1357 would be nice.
At least the sellers against the level have great trade location. The price technically is also below the trend lines on the hourly chart (at 1.1379 and 1.1389 respectively). This may be close risk levels for short term traders now (although things are crammed in)..
If the 38.2% can be breached, traders will look toward the low for the week at 1.1343. The 200 hour MA at 1.1323 will also be a target (green line in the chart above).
