Forex technical analysis: EURUSD corrects 38.2%. Stalls.

Discussion in 'Technical Analysis' started by ForexLive, Oct 29, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    German inflation numbers looking higher. US GDP up next The EURUSD has corrected higher - about 38.2% of the move down from yesterday's high (at 1.109723 - the high came in at 1.0976). The price has retreated a bit and looks back toward the 100 and 200 bar MA on the 5 minute chart at 1.0943 and 1.0932 respectively. A move below those level should reignite the trends bearish directional bias. A move back above the 1.09723 will look toward 1.0995 which is the 50% of the move down. It also was the low from the 1st hour of trading on Monday (5 pm start).

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