EUR/USD getting very close to 200-day MA

The market always picks some level to focus on and in the case of the EUR/USD it’s been the 200-day MA. This comes in today around 1.2820 and there are certain to be stop-loss sell orders below there. Interbank dealers still report plenty of buying interest starting at 1.2820 and staggered down through 1.2800, so I’m not expecting any vertical collapse.

  1. Sean,

    Again disagree. I thought it was rebounding when he hit 1.2912 yesterday. however it formed a new low for the week today and if the stops at 1.2820 come in handy there is carnage for the euro today

  2. Sean, I always love your comments regardless certain bias but that’s very you.
    I’ve just got 30pips quickly on this rally in Asian session but carefully again look at barrier 1.2880-90 (supposed important to open further rally). On the other side, MA 200 day and low of this month providing 1.2800-1.2820 as major support as you suggest, could be more important at 1.2750.
    I’m mild bullish…

  3. Thanks Guitar, we all gotta have a view 🙂 Nice easy pick-up ahead of the 200-day. I have a feeling it may break next time but I like the bullish tech set-up near 12750 for a medium-term entry perhaps?

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