EURUSD moves to new session highs as Europe looks toward the week’s close

Technical Analysis

100 day MA and 200 bar MA on 4 hour eyed now

The EURUSD is moving higher and in the process is trading at new session highs. Stocks are trading lower and if you recall from earlier in the week, lower stocks helped the EURUSD.  The Nasdaq is down -1.46%. and S&P is down -1.13%).  

Technically, a lower trend line held the most recent low (just last hour). The price is back above the 100 hour MA at 1.12017.  Above, sits the 100 day MA and the 200 bar MA on the 4-hour chart at 1.1222-237 area.  On Tuesday and Wednesday, both those MAs were busted, only to run out of steam.  Yesterday, the two MAs stalled the rally.  

Do we find sellers against the levels?  It’s Friday and anything can happen, but I would expect some stall in respect for the technical levels. 

However on a break, you also have to respect the levels for the same technical reasons.  

ForexLive

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