100 hour MA below is support…
The battle in the EURUSD continues as the pair has now 3 hourly bars that tested the 100 day MA (and 200 bar MA on the 4-hour) at the 1.12249-284 area. Each test found selllers.
At the low today, the pair tested the 100 hour MA at 1.11841 currently (and moving higher). Just above that is the swing high from July 25 at 1.1187.
We currently trade at 1.1206. Which way do we go? Do we break higher on USD selling (Trump’s hope) or does the market ignore the pleas and sell off.
The stocks are higher today. That dynamic earlier in the week sent the pair lower, but that reaction is a little less relavant today.