Tests 100 hour MA
The EURUSD is trading at new session highs and tests the 100 hour MA at 1.10689 level. The pairs move has extended the days range to 54 pips. That still is low. There is room to roam.
The 200 hour MA and 50% retracement of the 10 day narrow range comes in at the 1.10933. That is the next target above.
Looking at the 5 minute chart, the move higher, just took out the 1.1060 level. The price on Friday kept that level as a ceiling after the extended illiquid up and down activity after the NFP (see red area). The 50% of the range on Friday also comes in at that 1.1060 level. So that may be a short term risk for traders looking for a "trade".
That trade is hoping for that break of the 100 hour MA (and staying above). So if it can be broken (and stay above 1.1060 area), the 1.1093 will be the target....If not, it is back to the downside...
