Technical Analysis

New lows for the EURUSD

Looks to test the April 10 low

The EURUSD is trading to a new session low. The price has just reached 1.1230. The next target is the low from April 10 at 1.12291. Below that the pair will look toward the 1.1209-156.  

Drilling to the 5-minute chart below, the pair tumble lower, and has slowed the fall since the earlier fall.   The 100 bar MA lags behind. A move above that MA would muddy the bearish waters a bit (also above the topside trend line).  Conversely, a move below the lower trend line would be more bearish.   

EURUSD on the 5 minute remains below the 100 bar MA.


Articles You May Like

Introduction to the Triple Screen Trading System
GBPUSD makes new session low as the day winds toward the close
USD/JPY technical analysis: Plummets to fresh 3-month lows, oversold conditions warrant some consolidation
Forex Fundamental Analysis | 5 out of 6 Trades hit PROFIT!!
Chinese can sell debt to support Yuan (not just to punish the US)

Leave a Reply

Your email address will not be published. Required fields are marked *