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Showing posts with the label The EURGBP 100 hour MA catches up to the price

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

The EURGBP 100 hour MA catches up to the price

EURGBP stay below the 100 hour moving average The EURGBP moved to the low for the week on Thursday. That took the pair to lowest level since March 7 in the process. After waffling up and down on Friday (Good Friday), the price moved higher in trading today and sniffed the falling 100 hour moving average (blue line in the chart above). The price rise also had the price entering into a swing area between 0.82936 and 0.82987 (see red numbered circles). That area - along with the falling 100 hour moving average - is now close resistance. With the price currently trading just below those levels at 0.82876, the market will have to make up its mind on whether to go higher lower soon. Recall from last week, on Tuesday of last week, the price fell below the 100 average moving average line tilting the bias more to the downside. Then on Wednesday the MA was retested and found willing sellers (see hourly chart above). That kept the sellers more control. Going forward, move back above the 100 hour

 


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