EURUSD pushes above resistance ceiling

Technical Analysis

Author: Greg Michalowski | eurusd

Tries to move back in the upper region

The EURUSD has traded up and down as it digests Catalan. There was no major economic releases in the new trading day.

Technically the pair is looking to move in the upper region of  the trading ranges going back to August. I am dividing that area at 1.18225-1.1832 area. Above is more bullish. Below is more bearish.  The 100 bar MA on the 4-hour chart is now just below the lower level at 1.1817. So keep that level in mind too.

We have traded above and below that area in trading today. The market is unsure.  However, as NA traders enter the buying is resuming and the pair is making more of a push higher. The pair trades at 1.1838 as I type. The 50% of the move down from the September 20 high comes in at 1.18505. The 200 bar MA on the 4-hour chart comes in at 1.1877.  Those are targets on further upside (and if stays above the dividing line below).

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