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Forex technical analysis: EURUSD is retracing the fall from the FOMC meeting. Draghi speaks. — Forex Stock Trade




Forex technical analysis: EURUSD is retracing the fall from the FOMC meeting. Draghi speaks.




The stalls from the front of the 38.2% of the move lowerThe EURUSD is now higher on the day (closed 1.1890) but below the 38.2% retracement of the move down from yesterday’s high (1.1926). ECB Sabrina is scheduled to speak in Frankfurt, at the bottom of the hour. His comments may influence the pair.

On the upper part, in addition to the 38.2% retracement resistance 1.1926 are a bunch of MAs at 1.1939-555 zone. The 100 bar MA on the 4-hour comes at 1.1939. The 200 hour MA comes to 1.19468. The 100-hour MA comes in at 1.1955. A movement above these lines, will dampen the downward impact of the FOMC.
ON the other side of the coin, the 200 bar MA on the 4-hour chart to 1.18687 will be in the eyes. Yesterday and today, the pair has stalled the fall, close to MY line. Also look at the 1.1876 level. That was the low from 2010. Moves below these levels should spend most of the trading bias to the downside.



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