The subsequent move higher saw the pair peak near the 38.2% of the move down from the December high to the January low. That level came in at 1.03494. The high reached 1.0353 and failed. Like the break at the low, the buyers had their shot. They missed.
What now? What about next week?
Conversely, if the price moves above the MA, the swing area at 1.0332 to 1.0343 followed closely by the 38.2% of the range since December high at 1.0349 all need to be broken to prove the buyers are serious about the upside. Absent that, and the price may have corrected higher, but the buyers are not winning. The sellers are still in play or in full control.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about eurusd what are the technicals telling traders after bouncing off 2022 lows this week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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