The heartbeat of the EURUSD is steady. No spikes.

The 100 hour MA holds support (MA is rising).

The heartbeat of the EURUSD remains steady with no spikes.

Trading yesterday saw up and down (EKG like) price action. Today that pattern has continued.

Technically, the 100 hour MA has moved higher and the low today tested that MA level and found support buyers (see blue line in the chart above). That MA currently comes in at 1.13101 (and is rising). 

On the topside, the more volatile heartbeat from Tuesday's trade saw the price test a swing area between 1.13735 and 1.13852. The 38.2% retracement of the move down from the October 28 high was also within that range at 1.13787.  That area is the next upside target on further upward momentum today.

Break the 100 hour moving average and traders will first look toward 1.1287 to 1.1294 swing area, and then the 200 hour moving average (green line) at 1.12707.

The low to high trading range in the EURUSD is 40 pips. The 22 day averages at 71 pips (about a month of trading). There is room to roam on a break (higher or lower). 

The patient is alive. It has a heartbeat.  The question is, "Will there be a spike in that heartbeat today?". The buyers have an intraday bias advantage after holding the 100 hour MA at support, but only a little.  

Invest in yourself. See our forex education hub.


December 03, 2021 at 01:49AM
Greg Michalowski
https://ift.tt/3Iaao2F