Forex market whipping around.
Taking a step back — as Powell continues his Q&A press conference — the forex market is whipping higher and lower and whipping it good….
The USDJPY was testing the 100 hour MA one minute, then testing the July 2018 high. Failure to break that, has sent the price whipping back lower. The price just traded to a new low since the rate decision and in the process moved back down to test the 100 hour MA and trend line. Key level. Whip it good.
For the EURUSD, the high tested the 1.1800. The low tested the 1.1721-239 target area, but fell short of that target at 1.1730. The rally higher has moved up toward the 100 hour MA again at 1.1760. Whip it good
The GBPUSD moved to a topside trend line on the hourly and a swing high from last Wednesday at 1.32143 area. The price fell to the 100 hour MA at 1.31555 and stalled. The price sits in the middle at 1.3185 now. Whip it good.
Ups and downs in the forex market. So whip it. Whip it good.