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Forex technical analysis: EURUSD reverses. Trades above technical MA levels and fails

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

  1. ForexLive

    ForexLive Forum Member

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    Cluster of MAs broken and then reversed back below Go figure....Summertime is calling me (and it seems to have called the "market" as well). The EURUSD just broke to new session highs and in the process moved above the cluster of resistance defined by 200 day MA, 100 and 200 hour MA at 1.1092-95 area. The stops were triggered and the price moved up to 1.1120. We are back down below the MA levels as I type in illiquid, choppy trading. Be careful. The market is not acting right.

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