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EURUSD eases after repeated failure at 200SMA

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro failed to break above strong 200SMA barrier, which was cracked on a brief extension to 1.1056 (yesterday’s high). Quick reversal and daily close below psychological 1.10 support, left Doji candle with long upper shadow, which signaled hesitation and building selling interest. The notion was confirmed by fresh acceleration lower that broke below hourly cloud (spanned between 1.1000 and 1.0970), threatens pivotal supports at 1.0950/46 (daily 10SMA / daily Ichimoku cloud top),

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