Break in the EURUSD fails
1 min readThe price is back below the 200 hour MA and swing area.
The EURUSD broke above the 200 hour MA, and extended higher and above the high from Wednesday at 1.19696. The high price reached 1.19747. However, that break failed. The price is back below the 200 hour MA and now the swing area between 1.1942 to 1.19558.
The 100 hour MA (been above since Tuesday) and swing area between 1.19168 to 1.19271 are now in play on the downside.
It’s Friday. That has the potential to ignite breaks and runs or quite frankly can run out of steam on such breaks and quietly go off into the sunset near more comfortable levels. The break buyers had their shot. The price moved above the 200 hour MA for the first time since June 11, but that break failed and the price returned to more familiar levels.
US stocks are higher but the Nasdaq has spent time above and below the unchanged level after making new all time highs 3 days in a row. The S&P is closer to the high at 4280.55 (new all time high). It trades at 4278.88 currently. The Dow is up 224.94 points or 0.66%
