Markets are nervous….
The US stock market opened up and went lower. The dollar went lower. The EURUSD rose above the 1.1218 level and not only tested the 200 hour MA minutes later but moved above the MA line, the 50% of the days range and above the 100 and 200 bar MA on the 5 minute chart (see chart below). The tics are chopping around this area and can go either way, but the pendulum is swinging.
Forex technical analysis: Dollar falls as stocks in US turn lower. Choppy trading conditions
