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. 


Articles You May Like

Euro Decline Eyed, NZD too as Manufacturing Shrinks Most Since 2012
Forexlive Americas FX news wrap: US yields recover a bit into the weekend
AUD/USD sellers regain near-term control amid risk-off mood in markets
China wants to reach a deal, but will always reject US bullying deal – Global Times
Crude Oil Prices Eye Monthly-High as US Delays China Tariffs

Leave a Reply

Your email address will not be published.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