EURUSD moves to new session lows and closer to is rising 100 hour moving average ...Middle East

Price action in EURUSD has now dipped to a session low of 1.1439, approaching its rising 100-hour moving average at 1.14305. That level held as support on Friday, where the pair bounced after a test of the average. On Thursday, price briefly dipped below the 100-hour MA but failed to sustain downside momentum.

On the topside, resistance is now seen at the swing high from Friday, April 11, at 1.14723. For traders looking for a deeper correction, staying below that resistance adds to the bearish case.

From a broader perspective, EURUSD has risen over 840 pips since the March 26 low at 1.07293, a strong rally in less than a month. Given that magnitude, a corrective move would not be surprising—and there’s still plenty of room for a pullback if downside momentum builds. Getting and staying below the 100 hour moving average would give sellers more confidence and hope for further corrective price action.

This article was written by Greg Michalowski at www.forexlive.com.

Read More Details
Finally We wish PressBee provided you with enough information of ( EURUSD moves to new session lows and closer to is rising 100 hour moving average )

Also on site :

• Education Ministry rehabilitates 70 schools since Assad regime’s fall
• The $6 billion Vatican Bank was beset by scandals, disastrous investments—and ties to the mafia. How Pope Francis tried to fix it
• Braviant Charts New Course for Financial Access Innovation