The 100 hour MA was tested but not broken after the US GDP
What can I say? The EURUSD traders tried to take the pair above with 100 day moving average and 200 hour moving average at 1.1120-21 area in the London morning session, but could only get to at high of 1.11265. Not much follow through buying on the break.
The better-than-expected US GDP for the 3Q was better but I am not sure 1.9% is the 3-4% that Pres. Trump wants (and perhaps the market as well).
The EURUSD has gone lower (USD higher) but the fall has approached its 100 hour moving average at 1.10999 (call it 1.1100) but stalled just ahead of that technical barometer (bullish above/bearish below). It will take a move below to potentially kickstart another run to the downside with the 50% of the move up from the October 15 low at 1.10848, and the Friday – Monday – Tuesday floor at 1.10724 another key target.
Until that break, the pair is lower/the sellers are more in control, but the pair still remains between moving average support below and moving average resistance above.
