November 26, 2022

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EURUSD tests swing level ahead of the 2021 low

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Swing area at 1.1723 -1.17248. August low and 2021 low at 1.17035 to 1.17053

The EURUSD has continued its move to the downside and tests a swing area between 1.1723 and 1.17248 (see green numbered circles).  A move below that level openss the door for a retest of the August low at 1.17053. That level was just above the 2021 low price going back to March 31 at 1.17035.

Swing area at 1.1723 -1.17248. August low and 2021 low at 1.17035 to 1.17053

Earlier today, the price move below the 200 and 100 hour moving averages, andd moore recently below a swing level at 1.17416 (see red numbered circles). That level is now a close intraday risk level.




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