100 hour MA below and 200 hour MA below
The EURUSD remains confined between the 100 hour moving average below it 1.08407 and the 200 hour moving average above the 1.0899. The current price is trading close to the top at 1.0886 and near the high for the day at 1.08887.
In the London and New York session yesterday, there was a ceiling near the 1.0887 area. Moving above that is step 1. Getting above the 200 hour moving averages step 2. Step 3 would be to get and stay above the 38.2% retracement at 1.09124. On Tuesday, the price tried to extend above that level only to fall back below and fail.
