Friday , 22 November 2024
Home Forex EURUSD extends to a new low and stretches toward the 100 day MA
Forex

EURUSD extends to a new low and stretches toward the 100 day MA

The EURUSD has moved to a new session low, and in the process, the pair moved to a new low going back to August 13 and through the 61.8% of the move up from the August 1 low at 1.0944, and a swing area between 1.09419 to 1.0949. The low reached 1.09388.

However, what looms below that swing area and retracement level is its 100 day MA at 1.09322, and that level was not broken.

The price has pushed back higher and threatens a shift back to the upside on the inability to keep the selling going through the 100-day MA.

Resistance against the 50% kept a lid on the pair yesterday. The 61.8% was broken today, but the 100-day MA was not. Sellers hold most of the bias, but dip buyers can also claim that the 100-day MA is a low-risk level to stick a toe in the water.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published.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

Related Articles

What technical levels are in play for some of the major currencies vs the USD for Nov 22

The European data was yucky (if I can use a favorite word...

Why You Should Constantly Question the Market

While having discipline is a very important trait for a trader, we...

Gold rallies to above $2,700 on Russia-Ukraine tensions

Gold (XAU/USD) rallies for the fifth day in a row, making it...

GBP/USD: GBP has stabilized just above 1.25 – Scotiabank

UK data reports today were roundly disappointing, weighing on the Pound Sterling...