EURUSD trades back to session lows and below 38.2% retracement

  • Forex
  • September 3, 2024


The EURUSD rebounded on the back of the yield declines at the start of the US session, but has reversed to the downside after the pair tested the highs from yesterday and the 100 bar MA on the 4-hour chart at 1.10712. The US session high reached 1.1068 just 3 pips short of that MA level.

The move back to the downside has now seen the price extend back to the lows reached in the morning European and early US sessions. That low comes in at 1.1032. The low just reached the same level. The price is also below 38.2% of the August trading range at 1.10389.

This is the 2nd time below the 38.2%. That should give sellers comfort/confidence. A lower channel trend line cuts across near 1.10166 (and moving lower). The 50% of the August range is at 1.09889. The 200-hour MA on the 4-hour chart comes in at 1.09725 should selling really intensify. That would be another target going forward.

Conversely, if the break below the 38.2% fails, the battle is on between the 100 bar MA above at 1.10712 and the 38.2% retracement level.



  • Related Posts

    Report – the White House Situation Room meeting has ended
    • June 18, 2025

    While the meeting was underway there were a flurry of news items crossing: Fox reporter says US strike in Iran coming possibly by the weekend NYT: Iran Foreign Ministry official…

    Continue reading
    Extend and pretend Trump version: Trump to extend TikTok sale deadline for another 90 days
    • June 17, 2025

    The Taco stories pretty much write themselves now. Wall Street Journal: Trump will sign an executive order sparing TikTok from enforcement of a law banning or forcing the sale of…

    Continue reading

    Random News

    Real Madrid draw 1-1 with Al Hilal at FIFA Club World Cup | Football News

    • By gonews
    • June 18, 2025
    • 1 views
    Real Madrid draw 1-1 with Al Hilal at FIFA Club World Cup | Football News

    New code in Spotify’s app references the long-awaited ‘lossless’ tier

    • By gonews
    • June 18, 2025
    • 1 views
    New code in Spotify’s app references the long-awaited ‘lossless’ tier

    Printable 2026 Olympic Hockey Schedule; Men’s and Women’s Matchups

    • By gonews
    • June 18, 2025
    • 2 views
    Printable 2026 Olympic Hockey Schedule; Men’s and Women’s Matchups

    ‘Gates of Hell’: Iran Launches ‘Ultra-Heavy’ Sejjil Missiles in Latest Attack Wave

    • By gonews
    • June 18, 2025
    • 1 views
    ‘Gates of Hell’: Iran Launches ‘Ultra-Heavy’ Sejjil Missiles in Latest Attack Wave