The EURUSD trades around swing area. 200 day MA looms above.

Technical Analysis

Author: Greg Michalowski | forex

The EURUSD moves away from the 100 day MA...

The EURUSD is trading a little lower on the day to start the week.  In the process the pair remains above the 100 day MA down at 1.11335. Recall last week, the price tested that 100 day MA on Thursday and corrected modestly lower. ON Friday, the price moved above and closed above.  

The EURUSD moves away from the 100 day MA...
Today, the price did extend to a new session high up at 1.11788. That took the price above a swing area in the 1.11618-67 area (see yellow area). The price is trading above and below that swing area. It will take more momentum above that area to get the buyers more excited about the upside. 

The 1.11904 was a swing high going back to August 14. Above that and the 200 day MA at 1.12044 will be a key target. The price of the EURUSD has not traded above the 200 day MA since July 1. That should be a tough nut to crack on the first test (look for sellers on  a test).

Above that and the 1.12301 area, followed by the 1.12489 August high will be targeted. 

On the downside if the pair starts to trade back below the 1.1168 again, the buyers may give up and look back toward the 100 day MA for another test at 1.11335. 
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