Up and down day.
The EURUSD had an up and down day. The day is ending with a sideways price action, with a bearish bias.
Technically, the price high today reached above the 100 and 200 hour MAs (blue and green lines). The push higher took the price above a topside trend line, but short of an even higher trend line. The rally stalled.
The subsequent fall back down, took the price back below the 200 and 100 hour MAs. That ruined hopes for the bulls.
The last 11 hours have been able to stay below those MA lines – keeping the bearish bias in the process.
As a result, we head into the new day with more of a bearish bias.
- The swing lows from August 23rd and September 4th at 1.1529.
- The swing low from September 5th at 1.15409, and the
- The low today at 1.1564 will all be eyed as downside targets.
All bearish bets are off on a move back above the 100 and 200 hour MAs.