Is it just another dip below that will lead to a rally back higher?
The EURUSD has fallen below the 200 day MA in trading today. That is nothing new if you look at recent history. The price has been trading above and below the MA line as traders ponder "Which way next" for the pair...
Now yesterday the MA did hold. Today...not so lucky. In fact, the correction after the fall below level, used the MA as resistance - as a risk defining level. Is that a clue that the market wants to go lower?
In this video I show all this and explain what else to look for in the EURUSD and the EURGBP which is in play too.
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