Ending where we ended a week ago....
The EURUSD is ending the week neither too far up nor too far down. In fact on my chart we closed on unemployment Friday at 1.07368 and are ending this week at 1.0740 (or there abouts). We like to say "That is like kissing your sister....". In other words, not exciting at all.
Looking at the hourly chart, the low was reached on Tuesday at 1.06736. The high extended to the 200 hour MA yesterday at the 1.0831 level (see green line in the chart above). The range for the week? 157 pips that is 2nd lowest range in 2015 : ( The lowest range was 148 pips during the week of August 2nd.
Looking at the daily chart, the pair this week stayed above the next target at the 1.0659 level. A move below that level should solicit more selling (See chart below).
On the topside, the yellow area between 1.0807 and 1.0863 remains a hurdle to get and stay above. There was a number of swing lows in May, July and August in that area.
