Technical Analysis

EURUSD bounces off close intraday risk level. Highs for month still eyed

200 day MA in the EURUSD is also in traders sites

Looking at the hourly chart above the 1.13057-081 has had some action against the area going back to June 5 (see red circles), but there have been a couple breaks of that area this week that could not be sustained as well.  We are trying for the third time currently. Stay above would be close risk for traders looking for more squeeze to the upside for the pair.

The good for the buyers is that the NY session dip, did find support buyers against the aforementioned level and has bounced back higher.   So far the move has not been able to get to the intraday high, but the tilt is still to the upside with the June highs at 1.1343 and 1.13469 and the 200 day MA as a KEY target. The price of the EURUSD has not been above the 200 day MA since May 2018 (that is 2018). 

Articles You May Like

Forex Trading Strategy That Works
USDCHF tests 100 hour MA after up and down price action today
Australia CBA business spending index drops for fourth consecutive month
Gold’s downs and ups today did stall ahead of the 100 hour MA
GBP/USD: Neutral as no deal Brexit risks increasingly discounted – CitiBank

Leave a Reply

Your email address will not be published. Required fields are marked *