EURUSD extends to a new session high

Runs away from the moving averages

The price of the EURUSD is running to the upside. The and pair has now moved to a new high of 1.16594 (above the high in the chart above), as buyers squeeze the sellers and push the pair higher.  

Earlier, the pair moved above both the 100 and 200 hour moving averages and have been able to stay above those levels. The current bar based against the 200 hour moving average and has sprinted to the upside.

The next targets come against the high from Monday at 1.16646. The highs from last week stalled at 1.1666 at 1.16687.  That trio of swing levels need to be broken to push the pair even higher and give the buyers even more control.

Taking a broader look at the daily chart, the pair is currently testing the 38.2% retracement of the move down from the September high.

October 29, 2021 at 01:55AM
Greg Michalowski
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