Forex technical analysis: EURUSD is back in the black.

Technical Analysis

Author: Greg Michalowski | eurusd

It all started with a move back above the 100 bar MA 

We are seeing a little more bull in the EURUSD (see earlier post: "EURUSD intraday bias turns a little more to the upside").

The intraday corrective move got its start on a move back above its 100 bar MA (blue line in the chart below).  After a quick retest, the sellers became more interested in buying.  The pair has now moved up on the day -  extending above close from Monday at 1.2262.  We currently trade at 1.22667.

A trend line conntecting highs this week cuts across at 1.2274.  The high for the day comes in at 1.22828. Mondays peak reached 1.2296.