Technical Analysis

Moving away from the 50% retracement The EURUSD is continuing the move to the downside and in the process is moving away from the 50% retracement 1.1089.  The next target would be a lower channel trendline that comes in at 1.10768. Below that is the 100 day moving average at 1.1063. Also near that level is the 61.8% retracement of the move
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USDJPY finds sellers vs the 100 hour MA The USDJPY has drifted higher and in the process has tested its 100 hour moving average at 108.674.  Earlier today, the pair held support against its low price from last week at 108.422. I spoke about that risk defining level in an earlier post (click here). The level did in fact hold
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Still lower on the day but well off the lows. The US stocks are recovering and trading near highs for the day.  The snapshot of the major indices shows the S&P index -21.52 points. The NASDAQ index -53.94 points and the Dow down -282.29. Those levels are well off session lows where the Dow was down as much as 457.91
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