EURUSD falls back below the 100 hour MA
The Nord Stream pipeline news is pushing the EURUSD back to the downside. The price of the EURUSD is moving to - and now below - the 100 hour MA at 1.02098. Furthermore, the highs for the day once again failed to extend toward the 50% midpoint of the move down from the June 27 high (see video here). If the price cannot get above those 50% levels, the buyers are not winning.
Move below with more momentum, the price will start to look toward the rising 200 hour MA at 1.0144. On Friday, the price sniffed the line, but bounced. It would take a move below that level and then the 1.0121 area (it is the low of the near 6 day trading range), to increase the bearish bias.
