UPDATE: EURUSD holds the 100 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

Broke the lower trend line but the EURUSD holds the 100 hour MA

From a post earlier today:

The lower trend line comes in at 1.1312 (and moving higher).The lagging 100 hour MA is not far away from that lower trend line at the 1.13058. Apart from a quick dip below on the ECB day last week, the price has not been below the 100 hour MA since May 31.  That remains a key barometer on the downside. 

Broke the lower trend line but the EURUSD holds the 100 hour MA
The trend line was busted but the 100 hour MA stalled the fall as buyers leaned.

The price can still break that level (still a key barometer), but the buyers off the lows are now hoping for a reversal back toward the topside trend line.  First stop will be the close from yesterday. We are down on the day below the 1.1325. 
ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose