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EURUSD tests moving average as traders reverse earlier declines

Discussion in 'Technical Analysis' started by ForexLive, Jan 8, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Test 200 hour MA The EURUSD bottomed at the 1.0802 level and have moved all the way back higher. It is now testing what should be a key test a the 200 hour MA at 1.0872 and a trend old trend line (that was broken yesterday). A move below 1.0850 is now close support if the 200 hour holds on the test. Markets remain very choppy and volatile. Liquidity risk is increased and the event risk is still being debated on the strong jobs/weak earnings/global picture. A move above (seeing now) has 1.0898-1.0902 as the next target.

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