The EURUSD is doing it’s ABC’s (see prior post) after finding support at support – giving the buyers a low risk reason to buy and extend the day’s narrow trading range.
A. The 100 hour MA held support.
B. Traders took it as a clue to buy.
C. The 38.2% was taken out.
The next target comes at 1.26506 (50% of the weeks range). Above that the 1.2673 (which is 61.8 and a low from yesterday). The underside of the trend line comes in at the 1.2686 currently. Support now at 1.2628.