EURUSD reaches 100 day MA target

Technical Analysis

Author: Greg Michalowski | eurusd

High reaches 1.1044

The EURUSD has reached the 100 day MA target at 1.10424. The high for the day reached 1.1044 so far. The move took the price above a topside channel trend line at 1.1018.  That is a close risk level to eye. If momentum develops below the level, we could see more downside probing after the test. 

High reaches 1.1044 
On the topside, a break (and bulls remain in control), the 50% at 1.10633 and the 200 day MA at 1.1081 are the next upside targets.   

The EURUSD has a day range of 175 pips today. That is just above the 169 average over the last month.  That is relatively normal range.

In contrast. the GBPUSD has a range of 406 pips now (it too is trading near the high). The average is 253 pips over the last month.  

Nevertheless, the range for the EURUSD sure beats the 40-50 pip averages seen before the crisis

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