The EURUSD moved up and back down as the traders setup for the Fed decision. What now?
The EURUSD raced higher in the US morning session but after breaking through the 200 day MA and moving up toward the 100 bar MA on the 4-hour chart, momentum faded and the price rolled over.THe price has since moved back down toward the 200 day AM at 1.0840. That MA will be the barometer for buyers and sellers through the FOMC rate decision. Move below is more bearish. Stay above is more bullish. There are other technical levels which have shown their hand over the last few days of trading which I outline in the above video. Be aware. Be prepared. This article was written by Greg Michalowski at www.forexlive.com.
The EURUSD raced higher in the US morning session but after breaking through the 200 day MA and moving up toward the 100 bar MA on the 4-hour chart, momentum faded and the price rolled over.
THe price has since moved back down toward the 200 day AM at 1.0840. That MA will be the barometer for buyers and sellers through the FOMC rate decision. Move below is more bearish. Stay above is more bullish.
There are other technical levels which have shown their hand over the last few days of trading which I outline in the above video.
Be aware. Be prepared. This article was written by Greg Michalowski at www.forexlive.com.
