EURUSD extends to new session high

Technical Analysis

Author: Greg Michalowski | eurusd

Ticks above the 50% retracement

The EURUSD has extended to a new session high and in the process ticked above the 50% retracement at 1.11499 (call it 1.1150). 

Ticks above the 50% retracement
The move to new highs comes after a few hours of consolidation. The low on the correction stallet at the broken 38.2% retracement level at 1.11266 before moving back higher.  

On the topside now, the 1.11618 to 1.1167 is the next target (swing level - see green numbered circles). That was a low swing area from Aug 5 to August 14.  Key level to get above now.  

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose