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EURUSD finds support (for now) at the 200 day MA/100 bar on 4-hour after strong US employment

Discussion in 'Technical Analysis' started by ForexLive, Aug 5, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Bounces off key MA level The stronger than expected US employment report sent the EURUSD sharply lower. The price fall in the first 7 minutes took the price through the 200 hour MA at the 1.1117 level, the 200 more moving average in the four hour chart at 1.10987 level but found support against the 200 day moving average at 1.1077 and the 100 hour moving average on the four hour chart 1.10787. Those two key MAs were enough to stall the decline and we are see a bit of a correction.

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