Trend line and 100 hour MA below. 200 hour MA below.
The EURUSD moved higher - following the GBPUSD higher after positive UK/Germany Brexit headlines earlier in the session. The price rise moved right up to the 200 hour MA - cracking the underside of a broken trend line and the 100 hour MA in the process (blue line). Holding the 200 hour MA was a key ceiling to stall against and increases that levels importance going into the new trading day.
Later those headlines were reversed and the price came back down down.
However, the retracement stalled at the broken trend line. That trend line comes in at 1.1605. The 100 hour MA is not far away from that level at 1.16017. That area is now support going into the new trading day.
The price currently trades between at 1.16224.
Ahead is headlines on trade - China and Canada will be the focus. Headlines on Brexit. A deal tends to see the GBP move the most and EUR to follows (generally). The data starts to look toward the jobs report on Friday. The US ADP report and Non Manufacturing ISM will be released (with an employment component). Manufacturing ISM was at the highest since 2004 yesterday.
That data can certainly kick the pair higher or lower and the technicals should tell the story as well (dollar bullish or dollar bearish). So look for the break and the run. That is what the technical levels are there for....
