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Forex technical analysis: EURUSD can't keep the momentum going

Discussion in 'Technical Analysis' started by ForexLive, Feb 10, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Yesterday's rise, sees a retracement lower. The EURUSD came off the highs yesterday into the close (closed at 1.1292 - watch this level today) and the Asia Pacific session saw the price go sideways. In the London morning session, the price had to go somewhere as the range was only about 30 pips. It eventually settled on the downside. That fall stalled near the 1.1256 level (we broke above that level yesterday - it is the 61.8% of the move down from the August 2015 high - see chart below), and stalled near the 38.2% of the weeks move higher.

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