Monday February 22, 2016 - 13:23:34 GMT
Share This Story
Global-View.com - www.global-view.com
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
Visit the Forex Forum for latest breaking news, trading ideas and more...
Jay Meisler, co-founder
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."