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Showing posts with the label EURUSD moves back toward the 200 hour MA after run higher can't get through topside target

Russian rouble shut to five-year highs versus euro, shares up

EURUSD moves back toward the 200 hour MA after run higher can't get through topside target

EURUSD moves back toward the 200 hour MA after run higher can't get through topside target EURUSD retest its 200 hour moving average The EURUSD started the NY session with a move below the 200 hour MA (green line at 1.08366). The move lower took the price to a swing area from trading this week (and Friday last week as well) at 1.08205. The subsequent rebound off that support, rebroke above the 200 hour MA and moved back toward resistance between 1.0863 and 1.08728. For the 2nd time today, that area stalled the rally (see earlier post).  Now, the price is back down re-testing the 200 hour moving average, and traders wonder if it will hold or be broken once again? So what was accomplished today for buyers? The price is higher for the second consecutive day. Yesterday the gain was minimal, today the gain showed more momentum The price extended above its 100 and 200 hour moving averages (blue and green lines) The correction back below the 200 hour moving average held support against an

 


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