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Your email address will not be published.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

FX option expiries for 22 November 10am New York cut

There is arguably just one to take note of on the day,...

USD adding on a few points: AUD, CAD lower. USD/JPY back to its session high.

The moves aren't large, but just noting some USD strength coming in....

PMI data back in the spotlight to wrap up the week

The dollar held a bit more of a mixed mood since trading...

ForexLive Asia-Pacific FX news wrap: Gold, BTC up

Federal Reserve Board Governor Michelle Bowman speaking FridayJust over half of economists...