Trades near highs. What next?
The EURUSD trades to the lowest level since August 21 and in the process (early in the session), the price entered a swing area on the daily chart at the 1.1509-29 area. Lows from May, June and August stalled in that area. The low today reached 1.1525. The bounce of fthe lows has taken the price to a high of 1.1584 so far. .
The pair trade near the highs at 1.1579 and is testing the underside of a broken trend line at the 1.1580 area. There is a stall against the area for now. A break above would look toward the 50% and the 100 hour MA at 1.1592-967 area.
PS. As I finish up, the pair is trading above the trend line. There seems to more gas in the tank with eyes toward 100 hour MA.