As May 29th comes to a close, the EURUSD is trading to new lows and testing the lows that have confined the pair over the last 2-3 trading weeks. THe price is also back below the 100-day MA at 1.08099. Staying below is more bearish. Moving above – and then the 100 bar MA on the 4-hour chart – would likely disappoint the sellers on the break lower.
This article was written by Greg Michalowski at www.forexlive.com. Source