The Traderszone Network

Published in TZ Latest News 24 May, 2016 by The TZ Newswire Staff

Forex technical analysis: EURUSD tests 100 day MA

100 day MA at 1.1160 today
The EURUSD is putting a test on the 100 day MA at the 1.1160 level today (blue line in the chart below). The low for the day just touched 1.11619.  Low risk buyers are leaning on the test.  I would expect some stops triggered on a move below the level. The low from March 24 at 1.1143, the 61.8% retracement at 1.11245, and the 200 day MA (green line in the chart below) at 1.1102 are the next targets off the daily chart.