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Forex technical analysis: EURUSD extends higher

Discussion in 'Technical Analysis' started by ForexLive, Oct 7, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Needs to get over the next hurdle Putting things in perspective, the pair is mired in a slump and consolidating between a topside and bottom trend line on the daily chart (see below). The price has been above the 100 and 200 day MAs (blue and green lines in the chart below) since September 23rd (on a closing basis at least). The pair tried life below the 100 and 200 hour MAs yesterday, That fizzled. So now it is trying to extend higher. The bias is more bullish with work to be done (like get above that 50% at the 1.1230 level!)

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