200 hour MA at 1.10385. High for the week 1.10426
The EURUSD has extended up to the 200 hour moving average at 1.10385 (no highs for the day). The high for the week comes in at 1.10426. The high the low range for the week remains very narrow at 54 pips. That is so narrow that it hasn't been done so narrow since 2004. Do we extend and make something more of this down and up, non-trending week?
On an extension to new highs, the 200 bar moving average on the 4 hour chart comes in at 1.1057 and the 38.2% retracement of the move down from the November 4 high comes in at 1.10597.
The move higher today got it straight from holding support near the 100 hour moving average and the swing area at 1.10145 (see low for the day). Yesterday, the price moved above that area/MA and a topside trend line also tilting the bias a little more to the upside.
