The EURUSD is trading to new session lows and in the process is breaking below 3 technical levels:

  • 100 day moving average at 1.1644
  • 100 hour moving average at 1.1641
  • The broken 38.2% retracement at 1.16398

The combination of those 3 now set a ceiling level (risk level) for traders looking for more downside.

  • Stay below keeps the sellers in firm control.
  • Move above and there could be some disappointment on the failed break.

In the video above, I outline the price action and technical levels in play.

This article was written by Greg Michalowski at investinglive.com.



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