Breaking....
I will how the 100 hour MA has stalled the rally and the 100 day MA had stalled the downside. Traders were respecting the levels but at some point there would be a break.
Well, there was a break and another break and another break after that....
- The 100 hour MA was broken at 1.3004
- The 200 hour MA was tested and then broken at 1.30238
- The swing highs at 1.30386 was broken
The price just extended to 1.3067. The next target is around the 38.2% at 1.30865 (see yellow area).
Risk for longs is the 1.3038 and the 200 hour MA at 1.30238 now.
