Doesn't quite get to the MA target support
The EURUSD has moved a bit lower from the early NY levels (see prior post). The price got close to the 100 hour MA (blue line in the chart below at 1.1374 currently). The low ticked to 1.1380. As a mentioned in my earlier post, the market action is distrusting for this currency pair. Technical breaks to the downside lose momentum. Technical breaks to the upside are also running at a steam fairly quickly. In between are the 100 and 200 hour moving averages (blue and green lines in the chart below). Generally speaking, the price has moved away from the MA levels on breaks.
With the price drifting more to the downside, it still makes sense to me to dip a toe in the water near the MA levels. If it holds, there might be a look back to toward the highs (over time). If it goes below, get out (or even go short) as the price is just not hanging around the MA level for long. Am I in a hurry to do anything except at my level. Not really..