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.  

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