The EURUSD moved lower on the back of the post from Pres.Trump at the start of the US session that he was proposing a 50% tariff on EU imports. Later the administration started to walk that idea back as it "just a suggestion" (i.e. part of the art of the deal).
Technically, the price moved down to test the rising 100-hour MA on the headlines, and got within 5-6 pips of the MA level. Buyers leaned and the dip as risk could be defined and limited against the level The backtracking led to more buying as London/European traders exited for the week.
The price has now moved back toward the highs from Wednesday at 1.1362. Above that is a 61% retracement of the move down from the April high. That little comes in a 1.1378. The high prices from May 6 and May 7 also stalled near that retracement level increasing its importance (see green numbered circles).
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about eurusd bounces back higher 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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