100 hour MA busted at 1.08345
The EURUSD has completed the up and down lap and is now extending to new lows.
The earlier low for the day, bounced off the 100 hour MA. The high extended to the 50% retracement and the swing area in the 1.0886-96 area. The run back lower has now pushed below the 100 hour MA and the low for the day at 1.08345 and 1.0830 respectively. That is close risk area now for sellers…
Technically, the risk levels/areas have done their job in the trading environment. Now the sellers are making a play on the break of the 100 hour MA. THe 1.0808-15 is the next downside target. If broken, a trend line will be eyed at 1.0796.