| The EURUSD has moved and closed above its 100-hour moving average in trading today (blue line in the chart above) currently at 1.07285. The move came after reaching new lows on March 20 (at 1.06718). Looking back in time, the price moved above the 100 hour moving average back on May 22, May 23, and May 24, but the momentum faded fairly quickly. The question now is whether the 100-hour moving average remains broken and whether the price will then extend above its 200-hour moving average currently at 1.07615. The price has not traded above its 200 hour moving average since May 8. The price peaked last back on April 26 at 1.10950. The price low today at 1.06718 may have completed a 422 pip decline. |
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