Also falls below the 100 hour MA and trend line support.
The EURUSD has cracked below its 100 and 200 bar moving average is on the 4 hour chart. Looking at the hourly chart the overlay of that moving average showed a test earlier in the day and then during the last hourly bar (see earlier post here highlighting the levels of importance).
However, the current bar has been able to move below those moving averages as well as the trend line and 100 hour moving average at the 1.1068-69 levels.
The low price has so far extended to 1.1062. The next target on the downside would be the 38.2% retracement of the move up from the November 14 low at 1.10552 and then the swing lows from November 18 and November 20 centered around the 1.1053 level.. Below that is the 200 hour moving average and 50% retracement at 1.10425 (see chart above)
Risk now for shorts is for a move back above the 4 hour moving averages (above 1.10728). Sellers would not want to see a move back above that level/area.
