Forex technical analysis: EURUSD having a Friday type of day after failing to break higher
Couldn't break higher. Goes lower. Up on the week. Profit taking before the weekend.
The EURUSD this week bottomed just above the 200 day MA at 1.1048 - the low was 1.1057. That was on Wednesday. Needless to say, the FOMC decision had a say in the the move higher.
The push to the week's high did stall yesterday against the topside trend line (see video from yesterday here). Today the bulls needed to see that trend line broken. Instead, the price hit the trend line again during the Asian-pacific session. When the high could not be broken, sellers came in, leaned against the level (risk was defined and liimited) and the price started to trade more bearishly.
