Below the 100 hour MA
The EURUSD has seen the price move higher and then back lower as sentiment swung from euphoria on China, to Brexit worries, to perhaps higher dollar worries on higher rates and stronger growth. Who really knows with lots of balls still in the air. Today could continue to be a volatile session.
Technically, the price rise today, was able to extend above the 200 hour MA (green line) and the 50% of the move down from the November high at 1.13692. When that MA was later broken, the buyers turned to sellers. and the price decline was on.
That decline took the price back below the 38.2% and the 100 hour MA (blue line) at 1.13449 and 1.13418 respectively. Those levels are now close risk levels for the sellers. The sellers are in control below those levels. Move above them (at 1.13418-449) and the waters are muddy as the price trades between the 100 and 200 hour MAs.
ON more downside. the underside of the broken trend line comes in at 1.1311. That line has been a line of resistance and support (see blue circles). A move below will look toward the 1.1300 level. Remember on the daily chart, that level was a swing low in August and again in October.
