Home / Forex Treiding / EURUSD trades to new session lows after up and down after retail sales

EURUSD trades to new session lows after up and down after retail sales


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Headlines were weaker but revisions are better

The EURUSD moved higher (lower USD) after the headlines from the retail sales and import/export prices, but then reversed as revisions offset the lower numbers. Traders may have gotten caught on the revisions.

The price did move to new session lows and back below the 100 day MA at 1.16755. The price is trading above and below the MA as I type. The low reached 1.1668.  That low was the corrective low from yesterday (see chart above).   The trading range was extended to 53 pips which is still below the month long average of 82 pips.  
The price can go either way from here.  The recent fall did take the price lower. The high today stalled ahead of the August 28th high, but the price action is still up and down and the corrective low from yesterday, held on the dip so far.  Stay below 1.1700 perhaps is the risk for shorts.  Longs need to hold the 1.16678 and move above and away from the 100 day MA. 
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