EURUSD falls away from its 100 day MA/50% retracementThe EURUSD is trading to new session lows and in the process is running further away from its 10
EURUSD falls away from its 100 day MA/50% retracement
The EURUSD is trading to new session lows and in the process is running further away from its 100-day moving average. In the morning video on the EURUSD, I spoke to the breaking of the 100-day moving average and the 50% midpoint of the move up from the March low. Both those levels came in at 1.0805 today. The price is currently trading at session lows of 1.0762. See the QuickLook video on the EURUSD below.
The next target comes against the 61.8% retracement of the same move higher at 1.07367
Drilling down to the 5-minute chart, the falling 100-bar moving average comes in at 1.0793 and moves lower. The 38.2%-50% of the last leg lower comes in between 1.0784 and 1.07907. That yellow area is now close short-term risk level. Stay below is more bearish in the short term. Move above and some of the bearishness seen today is neutralized (again in the short-term).
EURSUD sellers in control on the 5-minute chart
www.forexlive.com