EURUSD cracks above the 100 hour MA and runs

Technical Analysis

Author: Greg Michalowski | eurusd

Day range up to 82 pips

At the start of the day, the EURUSD trading range was 33 pips. That range has ballooned to 82 pips after the pair just cracked above the 100 hour MA for the first time since February 4th.  That MA comes in at 1.13237. The high just reached 1.13391.  

Earlier in the NY session the price moved above the 1.12885 level (old low from the year from Jan 24, and a trend line. The low correction price after the break came down to retest the 1.1288 area (the low reached 1.1287), and held. That gave the buyers a little more control (see earlier post HERE).

Day range up to 82 pips

The next targets now come in at 1.13502-55. The 1.1350 is home to the swing high from February 8th. The 38.2% of the move down comes in at 1.1355. The 200 hour MA is up at 1.1379.   Risk for longs can be now moved up the 1.1320-23 area. Stay above and the buyers are still in control.  
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