Completes the FOMC up and down lap.
The EURUSD is making a new session low for the day and in the process has completed the lap up and down after the FOMC decision. IN the middle of the range was a swing area on the 5-minute chart at 1.1986-896. That has been a bullish and bearish barometer today.
The other disappointment for the buyers on the FOMC was the failure above the 200 day MA at 1.2010. It looks like we will close below that key MA. Sellers are back in control.
Looking at the hourly chart, the lower trend line cuts across at 1.1939. That trend line stalled the fall yesterday.
The 61.8% of the move up from the November low comes in at 1.19355 and the low from 2018 is at 1.1915. Those are the next key targets.
