EURUSD moves below its KEY 100 day moving average at 1.0930. Now close risk for sellers.

The EURUSD is moving to a new session low and trades at the lowest level since July 7. The move lower has now taken the price below its

  • 50% midpoint of the range since the January 2021 high at 1.0942, and the
  • 100 day moving average at 1.0930.

Those levels are now close risk. Staying below is more bearish.

The current price is trading at 1.0905. The low for the day is just below that level at 1.0901.

Drilling down to the 4-hour chart, there is a swing area 1.0886 and 1.0899. Below that is the 61.8% retracement of the move up from the May 31 low at 1.08801. Those are the next targets to get to and through if the sellers are to take more control.


This article was written by Greg Michalowski at Source