EURUSD expands to new highs

Maximum 8 consecutive hour bars

The EURUSD has expanded to new session highs, climbing above yesterday’s high of 1.20422 in the process. Wednesday’s high of 1.2050, and the 50% retracement of the move down from the January 29th high, comes in at 1.20534. Those are the next upward targets.

EUR / USD on the hourly chart

The pair are now standing at 8 consecutive bars per hour (the last bar closed at 1.2037) and closed the last 4 consecutive bars above the 100-hour moving average. The 100-hour moving average currently stands at 1,20203. Staying upstairs will at least keep buyers in control from the short term.

Invest in yourself. See our forex education hub.

Source link

Categorized as Forex

By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

Leave a comment

Your email address will not be published.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