100 day MA held below today
The EURUSD is back to the midpoint of the trading week. That level comes in at 1.1308. A trend line at 1.1314 was also breached, but we are back down at 1.1304 as I type.
Earlier today the 100 day MA did it's job. The price came down to it at 1.12354, stopped and moved higher. Traders who trusted, leaned with defined and limited risk were winners. The move higher had to maneuver through the minefield of moving averages at the 1.1370-73 area. The 100 and 200 bar MA on the 4 hour chart are converged there, along with the 200 hour MA. The 100 hour MA is a little higher at 1.12817.
Do you see the 1.1295-974 area? That just held the correction. SO buyers are remaining the dominant. But we know the date with the destiny is approaching and you put your trust in for a minute, but it can reverse too. The good news is that 1.1294-97 just got stronger as a line in the sand (for the day at least).
Targets: 1.1348-57
