Name: The EURUSD moved up and back down as the traders setup for the Fed decision. What now?
Uploaded: 2024-01-31T17:31:16.000Z
Description: The price of the EURUSD has moved back to the 200 day MA at 1.0840 after a run to the upside could not reach the 100 bar MA on the 4-hour at 1.0892.

The EURUSD moved up and back down as the traders setup for the Fed decision. What now?

The price of the EURUSD has moved back to the 200 day MA at 1.0840 after a run to the upside could not reach the 100 bar MA on the 4-hour at 1.0892.

Greg Michalowski

Wednesday, 31/01/2024 | 17:35 GMT

The EURUSD raced higher in the US morning session but after breaking through the 200 day MA and moving up toward the 100 bar MA on the 4-hour chart, momentum faded and the price rolled over.

THe price has since moved back down toward the 200 day AM at 1.0840. That MA will be the barometer for buyers and sellers through the FOMC rate decision. Move below is more bearish. Stay above is more bullish.

There are other technical levels which have shown their hand over the last few days of trading which I outline in the above video.

Be aware. Be prepared.