EURUSD trades mostly between its 100/200 hour moving averages

The price of the EURUSD moved back above its 100 hour moving average, and found sellers near the 200 hour moving average/50% retracement

The EURUSD moved higher in trading today as traders pushed the US dollar lower on a better risk tolerant trend. 

The move to the upside saw the pair move back above the swing area between 1.1703 and 1.17054 and also the falling 100 hour moving average (blue line currently at 1.17016). 

The rise - after that break  -chopped higher  with the peak briefly trading above it's next target at the 200 hour moving average at 1.17288, but staying below the 50% midpoint of the move down from the August 13 high (at 1.17339). 

The price is making a move back above the 200 hour moving average as I type. Get above the 50% and it should open the door for further gains on the day.

Buyers or making another play and reversing some of the declines from last week.

Invest in yourself. See our forex education hub.


August 24, 2021 at 12:38AM
Greg Michalowski
https://ift.tt/388n7SG