EURUSD falls below its 100 hour moving average The EURUSD has cracked below its 100 hour moving average at 1.05407 now, tilting the bias more to the downside in the process. The next downside target on the hourly chart comes between 1.0505 and 1.05095 (see red numbered circles). Below that and traders would target the 1.04904 swing lows from Monday and Tuesday’s trade. The cycle low was reached last week at 1.04703 on April 28. That was the lowest low going back to early January 2017 (see weekly chart below). On the weekly chart, there is a swing area between 1.04617 and 1.05187 (see red numbered circles in the chart below). The price has reentered into that region. A break below and the 2016 2017 low at 1.0339 would be the next major target. EURUSD is back within a swing area between 1.0461 and 1.0518
Member Support: https://my.euronis.com/
8 Copthall Roseau Valley 00152 Dominica
@ 2022 Euronis Software LLC
Euronis is fully automated trading software managed by you.
Risk warning: Forex, spread bets and CFDs are leveraged products. They may not be suitable for you as they carry a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks.