There is bullishness from the price action today in the EURUSD which I liked at the start of the day, and that bullish bias saw follow through buying.

However, the stretch to the upside could NOT reach the high from yesterday nor make it to a topside swing area between 1.0533 to 1.0543. Also near the high of that swing area is the falling 100 day moving average currently at 1.05427. The high price could only reach 1.04978 before rotating to the downside.

Now the price is in between that topside resistance and the rising 100 and 200-hour moving average is near 1.0465. I would expect that the dip buyers would look to lean ahead of those moving averages and rotate back to the upside, but the slowing of the buying is a bit worrisome.

In the video I outlined the technical levels in play and explain the “whys”.