Forex new for US trading on May 13, 2016
For the EURUSD, the pair finally had a more normal trading range day. In fact the pair trended down for most of the day before a NY PM corrective rally. The move lower took the pair below the 200 bar MA on the 4 hour chart, the low for the week, the 38.2% retracement of the move up from the March low at 1.1312 and is ending the week near that level. If you did not see my latest video (managing the EURUSD short trade is the focus, )
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