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breaking news EURUSD rebounds near 100 hour MA

EURUSD on the 4 hour chart

The EURUSD moved lower and lower today. In the process, the pair moved below what was a swing zone dating back to November. This zone was held earlier in the week.

Going down, the bearish bias has increased and the price has gone down.

Looking at the 5 minute chart below, the move lower for the day has found its way to the 100 hourly MA (blue line currently overlaid at 1.14041 and moving higher) and the 50% of the upward movement from the week’s low from Monday. The buyers leaned close to these levels and the price saw a modest rebound.

Additionally, the price was able to stay above the 1.13857 level (the breakout high level on the 4-hour chart above). Buyers retain some control, but barely.

Going into the new trading week, the 100 hourly MA, the 50% level and the 1.13857 level will be the support. Move below those levels and this week’s break was a failed break. Buyers will be disappointed.

Stay above and the lower fix went all the way to the edge and held. There is hope for a resumption of the upward momentum seen earlier in the week in the new trading week.

breaking news EURUSD rebounds near 100 hour MA

EURUSD held support near the 100H MA and the 50% midpoint


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