Forex technical analysis: EURUSD swings wider to some of the main support.




200 MA week 2015 swing high, 38.2% retracement of dropping out of the fallHave you ever wanted to crack something open to understand what makes it work? You can do that in negotiation with the graphics.
Earlier in the week, the 100 bar on the 4-hour chart has been a key swing level for the week. Move above it bullish. move and stay below is more bearish.

Monday opened lower, got close to 100 bar MA (blue line in the above table and sold.
The pair broke below the 1.1876 level and 200 bar MA on the 4 hour chart, then the’268 pip trading range that confined the range over the last 4+weeks of trading (red box).
The pair has moved lower, and stalled near:

  • The 38.2% of the move up from the June 20 swing low 1.17205
  • The 200 week moving average at 1.1718
  • The swing high from August 2015 to 1.1711.

The low today reached 1.17163.
The price has slid off of the support level (due to a break in the level of l’) and moved up to 1.1776. High is still below yesterday’s close at 1.1791. He tested a swing low from August 25 to 1.1772.
Drilling a 5-minute chart, the sharp correction of the increase of the key support and above 100 and 200 bar MAs (blue and green) and a large trend line. But in the last 30 minutes, the price has fallen back between the 100 bar MA at 1.1740 and the 200 bar MA at 1.17574. Do the buyers come in against the 100 bar MA? The market to spend time and consolidate down this week?
The sellers took control Monday near the 100 bar MA on the 4 hour chart. They have reached the key target today. Thus, the sled must be tougher from here. Look at the levels. I would not be surprised to see some up and down trading.



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