Corrective move in NY session stalls ahead of broken levels (Bearish)
The price of EURUSD did correct higher. It stalled just ahead of the 100 hour MA at 1.23496 (currently). The high reached 1.23473). Sellers entered and have now pushed the price to new session lows.
- The swing from Tuesday at 1.23138,
- The 50% retracement at 1.22995 (call it 1.2300) and
- The swing low from Monday at 1.2290
The employment day’s low bottomed at 1.22723.
If you liked the downside, the sellers in the EURUSD below the 100 hour MA have kept the bearish fire burning.
The closest risk might now be the 38.2% at 1.2334. The 100 hour MA is a higher risk for shorts looking for more selling momentum.