EURSUD
Forex Trading: EURUSD testing support at 200 hour MA
The EURUSD is testing the 200 hour MA at the 1.5843 level. WATCHING THIS LEVEL. A break should attract some sellers.
Forex Trading; EURUSD and GBPUSD approaching support
The EURUSD is approaching the midpoint of todays range at the 1.5959 level. (see chart above)
The GBPUSD has support at the 2.0074 level.
Forex Trading: EURO is the dog
The EURO has been the dog for the day. The pair sold off overnight on weaker IFO out of Germany, was pressured further after the 8:30 AM US numbers, then bounced on the housing data.
The bounce was strong enough and the housing data was weak enough to get traders buying dips on expectations of a weaker dollar again When the pair moved back through the 1.5701 level (the 200 hour bar on the 4 hour moving average), the "buy on dip" traders, thought it best to cover and sell.
Meanwhile, there was also some selling in the EURGBP which helped the downside move.
Economic Calendar
