EURUSD Technical Update: 200 Day MA on the Radar

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Monday February 22, 2016 - 13:23:34 GMT
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EURUSD Technical Update: 200 Day MA on the Radar

The following is a post from a highly regarded GVI Forex member and suggests a risk on the EURUSD downside, especially if the 200 day moving average gives way. Charts show a risk for 1.10, 1.0985 and 1.0960 on a decisive break of 1.1045.

From the GVI Forex member:

To me Euro 200 Day MA 1.1045 is very important.

I always think if one is of the opinion that a trend will re-emerge after consolidation then selling into 200 Day (and beyond) is a fairly conservative strategy. Many seem to think break 200Days MA (or the others) but I am of the opinion being averages they will always be converging towards eventually. Anyway after almost 3 weeks above the 200 Day MA a Break and close below open up possibility of a bull trap

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Monday February 22, 2016 - 13:23:34 GMT Global-View.com - www.global-view.com