Will the buyers keep control?
The EURUSD has broken above the trend line, 100 hour MA, 38.2% of the move down from the June 29 high.
If the price is to continue higher it needs not to FAIL. It needs to get to the next target which is the 200 hour MA currently at the 1.1085 level. If the price can get above that MA and stay above, the 50% at the 1.1096 becomes the next target. The high for the week is 1.1094.
When the price is mired in an up and down range, the breaks can still be like pulling teeth. However, what we know technically is we are above a bunch of resistance. Stay above and the bulls remain in control (higher prices expected). Move below and we are back to square one...We can all see the levels. It is up to the market players to keep the momentum going. Key moment.
