Is the third time a charm? EURUSD buyers take the price above the 200 hour MA
The EURUSD is trading above its 200-hour moving average (currently at 1.1347) for the third consecutive day. In the previous two attempts, the pair posted modest gains before retreating, so a susta...
The EURUSD is trading above its 200-hour moving average (currently at 1.1347) for the third consecutive day. In the previous two attempts, the pair posted modest gains before retreating, so a sustained move above this level would be a more convincing bullish signal from a technical standpoint.
If the pair fails to hold above the 200-hour MA, focus shifts back to the 100-hour moving average at 1.13296. Conservative traders may use a break below this level as confirmation that upside momentum has faded.
On the topside, key resistance levels to watch are:
1.1364 – Yesterday’s high
1.1380 – Friday’s high
A break above these levels would strengthen the bullish bias and open the door for further upside.
Is the third time a charm? Will the buyers make a more concerted effort and move higher, or is this just another failed break with focus still on the downside (at least in the short term)?
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