performance data with graph notebook
Markets

EURUSD spikes to 1.1533 target/backs off

Equals swing high from Feb 2015

I know it was a long time ago, but the price just peaked at 1.15334 which equaled the swing high from Feb 3rd 2015. As mentioned in the earlier post , a move higher has little in the way of resistance. The 1.1533 level was the next target.

The market also seemed to like that on the correction off the 1.1500 level, the price was able to stay above the 1.1465 level. Again.... as mentioned in the earlier post , that was the start of an area where there were swing highs from 2015. There were two break above in August and again in October (for a day before reversing). Staying above is key for a bullish move.

The price is back down to 1.1510 after the spike higher. There is technically support down to the trend line at 1.1490. The October 2015 high came in at 1.1494. The 1.1500 level stalled the pair on the first look higher today and ignited buying on the 2nd break above.....So that area is key intraday. Let's just say, it would look more bullish today, if the price can stay and close above 1.1500 level.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos