EURUSD moves above swing area to target the high from last week

The EURUSD extended the 28 pip trading range seen prior to the Powell testimony. The range is now up to 58 pips. That is still short of the 22 day average of about 69 pips (but it is better).

Looking at the 4-hour chart, the move extended the trading range for the week getting above the high from yesterday at 1.09455, and the swing area between 1.0933 and 1.0942. Buyers looking for more upside would want to see the 1.0933 level now holds support.

The run to the upside reached 1.0963. The high price from last week reached 1.09701. Getting above that level and the high of another swing area up to 1.09728 would open the door for a run toward the 1.1000 – 1.1006 area.

Conversely, a move back below 1.0933 would have traders looking back down toward the 61.8% retracement 1.0919 and the lower support area down to 1.08955.

Buyers have made the play. They broke above 1.0942. Can that momentum continue?

A look around the other markets as the testimony continues shows:

• Dow Industrial Average is trading near unchanged
• S&P is down -20.3 points at 4368.30
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is down -171 points at 13496.40

in the US debt market:

• 2-year yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term 4.740%
• 5-year yield 4.006%
• 10-year yield 3.780%
• 30-year yield 3.864%