Below 100 hour MA
The EURUSD has moved below the 100 hour MA at the 1.1263 level on the better US retail sales data at the 1.1263 level. The price scooted lower and stalled at trend line support at the 1.1229 level. The price is now moving back and forth between the levels. The market seems distrusting. The S&P futures which were up 23 are now up 18.50. Technically, you don't have to go far to see a similar fall below the 100 hour MA and bounce back. Traders will be watching for the same thing today.
The USDJPY is showing signs of cracking as it moves back down to another new corrective low. The dollar buying is fading away. The stocks will be key. Right now the market is simply not trusting as the price sits between levels...waiting.
