Maximum 8 consecutive hour bars
The EURUSD has expanded to new session highs, climbing above yesterday’s high of 1.20422 in the process. Wednesday’s high of 1.2050, and the 50% retracement of the move down from the January 29th high, comes in at 1.20534. Those are the next upward targets.
The pair are now standing at 8 consecutive bars per hour (the last bar closed at 1.2037) and closed the last 4 consecutive bars above the 100-hour moving average. The 100-hour moving average currently stands at 1,20203. Staying upstairs will at least keep buyers in control from the short term.
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