EURUSD continues bullish surge, eyeing retracement target after breaking key resistance ...Middle East

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The EURUSD has had a string of 5-up bars on the hourly chart in the late London morning session/early US session. The run to the upside has seen the price extend away from the falling 100-hour MA at 1.0939 and into and above a swing area between 1.0965 and 1.0975. The next key target comes against the 38.2% retracement of the move down from the December 28 high. That level comes in a 1.09864. Above that and the 200-hour moving average 1.09999 (call it 1.1000) would be the next target. The price fell below that 200 hour moving average last Tuesday to start the trading year..In the short term, the best-case scenario for traders would be to hold the 1.0965 level and base for a further run to th

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Last updated : 08 January 2024 clock 08:12 PM

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EURUSD continues bullish surge, eyeing retracement target after breaking key resistance ...Middle East

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