EURUSD can't stay above the 100 day MA

The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term is rotating back lower in the US afternoon. The pair moved higher as Fed Powell (may not have to tighten as much due to banks slow lending), and the debt ceiling talk stall sent rates lower and the USD lower with it.

Technically, the price for the EURUSD moved above its 100-day MA at 1.0807 but stalled ahead of the falling 100-hour MA (blue line currently at 1.0832). The high reached 1.0828. Buyers turned to sellers.

The price has rotated lower and now trades below its 100-day moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term once again. The current price is trading at 1.0799.

We are heading into the weekend and then into a new trading week, but what is clear from the hourly chart at least is that the price has been able to stay below the 100-hour moving average since May 8. There have been 4 separate tests at lower successive levels, and each test has found willing sellers. The prices also looking to close a week below its 100-day moving average which is a more bearish bias shift.