Weaker ISM sends the dollar lower

Technical Analysis

Author: Greg Michalowski | eurusd

EURUSD and GBPUSD trade to new highs

The weaker than expected ISM data has sent the dollar lower.  

EURUSD: The EURUSD moved to new session highs at 1.1245. The pair has come back a little and it is not racing but off the hourly chart, the pair remains above a lower trend line and is back above the swing are at 1.1225-29 (close risk now).
 EURUSD and GBPUSD trade to new highs

GBPUSD: For the GBPUSD, the pair remains above the 100 bar MA on the 5-minute chart. A move below that level and the 38.2-50% of the move up today, would be needed to take some control from the bulls (buyers remain in full control above those levels).

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