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Forex technical analysis EURUSD trades at session lows. What's the plan today?

Discussion in 'Technical Analysis' started by ForexLive, Jan 5, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Moves through support with more momentum today Yesterday, the EURUSD fell sharply after peaking near the 100 and 200 hour MAs (blue and green lines in the chart below) but found support buyers after the break of the floor in the 1.0788-1.0801 failed to ignite more momentum selling. The subsequent correction from yesterday's low stalled before topside resistance, and the fall resumed. The selling today is being helped by weaker CPI data out of the EU today with the headline and core both coming in lower than expectations. That is not going the right way for the ECB.

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