Tests 100 bar MA and 38.2% of the day's range
ECBs (Bank of France Governor) Villeroy is on the wires saying the "economy is stronger than feared" (I don't know why a European country is "fearing" growth when they don't look to raise rates until end of summer/beginning of fall in 2019). That has helped to push the price higher in the EURUSD.
It is up testing the 100 bar MA (breaking above ?) on the 5-minute intraday chart and the 38.2% of the day's range. A move above and staying above, would be a little more bullish at least intraday. The 50% comes in at 1.1632. The 200 bar MA comes in at 1.16403. The pair is trying to change the bias. We will see.
Looking at the hourly chart, the low today moved below the Friday low at 1.16119 level on two separate runs today The momentum slowed each time. In the process, the low stalled ahead of the the July month low at 1.15906. The low today also stalled just above the nice round number of 1.1600 (low reached 1.1601). There are about 780M of options expiring at 1.1610 today. All that stuff may keep a floor under the market today.
The price is trading back above the 100 bar MA on the 5- minute chart now. Buyers are starting to make more of a run to the upside.
