EURUSD tests trend line after better sales data and holds

Discussion in 'Technical Analysis' started by ForexLive, Feb 12, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Below 100 hour MA The EURUSD has moved below the 100 hour MA at the 1.1263 level on the better US retail sales data at the 1.1263 level. The price scooted lower and stalled at trend line support at the 1.1229 level. The price is now moving back and forth between the levels. The market seems distrusting. The S&P futures which were up 23 are now up 18.50. Technically, you don't have to go far to see a similar fall below the 100 hour MA and bounce back. Traders will be watching for the same thing today.

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