Slowly the price moves lower.
The EURUSD has held the line against the 1.1151-58 area over the last 5-6 hours. That has kept the bears in control and the price has made a run at the lows for the day and even through the low (see prior post).
So where to now?
The day MA is at 1.11134 today. We are a little less than 20 pips away from that level. It has taken a while to move outside the 20 pip trading range between 1.1136 and 1.1156.
However, the sellers are in control, so that would be the path going forward (we know the risk above). It might take into the new day but traders will certainly be interested in that MA line on a test.
PS a move below the 1.1129 would be a clue the sellers are taking more control too. This was swing low from August 12.
