The run as much as the 1.2775 stage stalled and the worth rotated again down
In an earlier put up, I argue that the sellers had the shot once they took the worth under the 100 and 200 day shifting averages on the 1.2722 space. Within the put up I additionally outlined the 1.27614 to 1.27754 space as a key goal to get via if the consumers had been to take again extra management.
The 100 and 200 day MAs did certainly maintain help on the retest within the NA session and the 1.27754 stage held resistance (the excessive reached 1.2776 – shut sufficient).
The value has now rotated again towards the important thing 100 and 200 day MA AGAIN. The identical rule applies – fall under and the bears take again extra management. Keep above and we may begin to see extra dip consumers once more towards the MA stage.
To date, the sellers nonetheless had there shot under the 100/200 day MA, however I may also say, the consumers had their shot in getting above the following key targets. They failed too. So the battle is on and the “market” is on the lookout for the following shove.
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