EURUSD breaks the 200 hour MA.

Technical Analysis

First time back above 200 hour moving average cents September 20

The EURUSD has now broken and closed an hourly bar above its 200 hour moving average at 1.09553.  The pair also moved above its 38.2% retracement at 1.09537.    

Looking at the 5 minute chart below, the 1st look at the moving average, stalled the rally and the price modestly corrected to 1.0945. This move is the second look above the levels.   Can it stay above now? That is what intraday traders will be watching now….

The EURUSD on the 5 minute chart

Leave a Reply

Your email address will not be published.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