10:30 GMT July 14 EURUSD has performed technically, making a run at the cluster of mvas but stalling just below the 100 day mva . Also included in that cluster is 1.4295 = 61.8% of 1.45771.3835. As posted late yesterday:
Daily chart shows the key trendline is not until around 1.45 but there is a risk for converging mva between 1.4279/1.4300/1.4315 but that would require 1.42+ to solidly trade.
Well, 1.42+ has not been established and has replaced 1.40 as the bias setter.
Now, look at the one hour chart where the 200 hour mva has capped the upside and on the other side finds support while above the trendline, closeby currently at 1.4174 and above the 100 hour mva .
Maybe there is just too much going on and we stay within 1.411.43 today.
Jay Meisler, cofounder, GlobalView.com
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