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.
