EURUSD moves below the 100 hour MA today
Written November 12, 2009 at 7:44 AM EST by Greg Michalowski
The EURUSD has moved through the 100 hour MA today at the 1.4962 level moved to a low, corrected one last time to test the level once again and started the sell off. The price in early NY trade is making new lows. The next targets are the 1.4886 level (38.2% of the move up from the November 3rd low to the November 11th high) and then the 200 hour MA at the 1.4877. The market is currently stalling at the 1.4908/17 level which stalled the upside move on November 4th to 6th. Look for upside resistance at the most recent lows for the day at 1.4926 and 1.4935.
Categories: Forex Trading | Tags: EUR/USD
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