Forex Trading: EURUSD Breaks Below 100 Hour MA, 50% Wks Range And 200 Hour
The EURUSD has moved below the 100 hour MA and the weeks midpoint at 1.31257. The price has now moved below the 200 hour MA and looks toward the next target at the 1.3089 areal. 1.3076. 1.3051 and the low for the week at the 1.30257 are downside targets.
Traders will like to see corrections stay below the 1.31257 midpoint (and the 100 hour MA at the 1.3137) if the price breaks back above the 1.3137 level (100 hour MA) all bets off for the downside as the market stays unsure of the directional bias given the strong number.
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