EURUSD testing the 100 hour MA and close to a key swing space

The EURUSD is stretching increased and it has now damaged again above the November 26 swing low at 1.0442 and is testing its falling 100-hour shifting common at 1.0443 (blue line on the chart above).

Simply above that could be a swing space between 1.0448 and 1.0461 and the falling 200-hour shifting common at 1.04719 (inexperienced line on the chart above).

Recall that the 200 hour shifting common was a robust resistance space going again to December 10. Simply previous to shifting decrease on Decemeber 17, the value tried to increase above the 200 hour MA (see inexperienced quantity circle 7) however failed shortly. The worth traded increased and decrease on Tuesday and Wednesday earlier than heading sharply decrease on the FOMC day.

Now after bottoming close to the November low, the value is stretching increased.

Additionally in play is the “Crimson Field” that confined a lot of the buying and selling between 1.0448 to 1.06097.

The query is “WIll the sellers lean in opposition to outdated assist RIGHT HERE?” or “WIll the patrons take again management after the failed break decrease this week and testing the November low?” .

That’s the choice proper right here. Bear in mind.

This text was written by Emma Wang at www.ubaidahsan.com.



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