EURUSD stays below its 100 hour moving average

The EURUSD closed on Friday right under its 100 hour moving average (blue line in the chart above). After the weekend developments in the Russian/Ukrainian conflict, the price gapped lower from 1.1270 to 1.1149 near the open. The low price for the day extended to 1.1141 in the early Asian and late Asian session, but has since rebounded higher. The European/London session high has reach 1.1231 so far.

There is a currently a swing area above between 1.1220 and 1.1233. Above that, and the aforementioned 100 hour moving average is currently at 1.1251. That is just above the 50% midpoint of the move down from the February 16 high.

That 100 hour moving average and midpoint level will be a key target on further upside momentum. A move above that area would tilt the buys more to the upside. Stay below keeps the sellers more in control.

Be aware that the Russian/Ukraine talks have now concluded. Be alert for headlines.

The US stocks remain under pressure with the:

  • Dow down -460 points
  • S&P -63.5 points
  • NASDAQ index -187 point