Technical Analysis

Another failed break for the EURUSD

What can you do?

The EURUSD raced above the 100 day MA and 200 bar MA on the 4 hour chart for the third time  The third time was not the charm.

Traders would have needed to see the “break remain a break”.  It did not happen. The buyers gave up. The price is back down.  

So the waters are muddy again for the pair as buyers and sellers take turns taking control/more control. The 100 hour MA below at 1.12017 is near the close from Friday.  That MA is a mid level barometer for bulls/bears with the 100 day MA above at 1.12227 as resistance, and the 100/200 hour MAs below at 1.1163 area below as support.

The price action in the EURUSD as it battles the ups and downs. 

ForexLive

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