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Forex technical analysis: EURUSD keeps the bid

Discussion in 'Technical Analysis' started by ForexLive, Feb 11, 2016.

  1. ForexLive

    ForexLive Forum Member

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    For now? The EURUSD reaction is that stocks go down, the EURUSD benefits. EURGBP also goes higher. Yesterday, the pair did dip and fall below the 100 hour MA and trend line on the hourly chart. That lasted for less than an hour. The price today extended to the highest level since October 21. In the process the pair moved above the underside of an old trend line (see daily chart below). That trend line was tested and held on Tuesday. Today it was broken and failed....well maybe. The line cuts across at 1.1354 currently and the price is testing right as the stocks open. I guess the traders are not all that bullish on a stock reversal.

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