The 38.2% and swing area could not be broken
The EURUSD was able to crack below a developed trend line and move to the next target support area at the 38.2% (move up from Sept 7) and swing levels in the 1.16428-492 area (see red numbered circles), but that area could not be busted (see earlier post).
The sellers turned around and are pushing the price back toward the 100 hour MA now at 1.16735. Traders are trading the levels but don’t seem too committed to their positions..
There are lots of ups and downs in the EURUSD over the last few days. The pair remains mired in the 107 pip trading range and is near the middle of that range at 1.16707. The run lower stalled. Do we go back higher now? Get above the 100 hour MA.