The Traderszone Network

Published in TZ Latest News 3 November, 2016 by The TZ Newswire Staff

Forex technical analysis: EURUSD corrects lower.

Inspired by the 100 day MA.
Traders in the Asian Pacific session leaned against the 100 day MA (MA at 1.1132 and the high reached 1.1125).  In fact that high was reached on 2 separate occasions and each time traders leaned.   Needless to say, risk could be defined and limited against the level.  The subsequent fall moved below the broken topside trend line and then the 200 bar MA on the 5 minute chart (at 1.10809).  Look for 1.1081-85 to be a resistance level to eye on a rebound.