The EURUSD chart (at this point at least), looks like the chart (and video) from yesterday. The price has moved below the 1.1184 level after testing its 100-hour moving average earlier today. The close risk is now at 1.1195. On the downside, the next target comes against the 200-hour moving average which is higher from yesterday and currently at 1.1153. The price has not traded below that level since July 7.
For today, the sellers are making the play for the 2nd day in a row. Can they keep the momentum going today and reach that 200-hour moving average? If it can, buyers and sellers will need to decide which way to go at the key barometer in the short term at least.
This article was written by Greg Michalowski at www.forexlive.com. Source