EURUSD corrects to the 200 hour MA….stalls




Found support against trend linesThe EURUSD has corrected off a couple of lower trend lines at the 1.1724 area, and stalled at the broken 200 hour MA at 1.17649.  The pair trades between the levels at 1.1744 now.  The pair seems to have found a sweet spot where buyers and sellers are both happy.  Shorts can lean against the 200 hour MA with risk defined and limited. Buyers can lean against the trend lines on the downside with risk defined and limited.   
Overall today, the sellers are obviously in control. interest rates are higher helping the dollar. The EURUSD did move to a key target at 1.1876 and slowed. The pair moved 600 pips in a month and 800 pips since June 20th.  There is some room to correct.  But as always, the price action will tell the story. Stay below the 200 hour MA for more of a bearish bias. 



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