Fast break the other way. EURUSD reverses on ECB comments.

Back below 100 hour MA and trend line

The ECB has thrown a bearish wrench into the technical picture with comments that they will not be ready to change stance until December.

The rug was pulled from under the feet of the bulls after the weaker US employment report and the technicals have moved back between the goal posts defined by the 100 hour MA at 1.19368 and the 200 hour MA at 1.18247. The low moved back down to 1.19047.

We get the hint. The ECB does not like the EUR where it is. They want it lower. This headline is no accident.

For traders who took the clues from the price action, the waters went from more bullish to back between the goal posts defined by the 100 hour MA above (blue line) and the 200 hour MA below (the green line). The 1.1876 is also a key level to get to and through (and stay below).

But right now, we are back to where it all started before the US employment report.

PS. the fall in the EURUSD has also taken the wind out of the USDJPY sails. PSS the price is back to where it began before the employment report.