The bell rings at the 1.0700 area and traders get antsy
The EURUSD is down modestly on the day. The pair squeezed higher in the Asian Pacific session but started to lose momentum as European traders entered. Moving averages were broken (see blue and green lines on the 5-minute chart below). The close from yesterday was broken at 1.0741. The 1.0700-05 area was broken, but a bell rang, Pavlov’s dogs salivated and they bought the dip.
Forex technical analysis: EURUSD has that Pavlov reaction once again
