EURUSD trades off lows after gap lower. Price remains below 100 hour moving average.

Price of EURUSD closed against 100 hour MA on Friday.EURUSD stays below its 100 hour moving average.The  EURUSD  close on Friday right under its 100 hour moving average (blue line in the chart above). After the weekend developments in the Russian Ukrainian conflict, the price gap lower from 1.1270 to 1.1149 near the open. The low price extended to 1.1141 in the early Asian and late Asian session, but has since rebounded higher. The European/London session high reach 1.1231.

There is a swing area between 1.1220 and 1.1233. The aforementioned 100 hour moving averages back down at 1.1251 which is just above the 50% midpoint of the move down from the February 16 high. That moving average and midpoint level will be a key target on further upside momentum. It above would tilt the buys more to the upside. Stable love keeps the sellers more control.

Russian central bank tries to halt foreigners selling Russian securites.Russia-Ukraine talks in Belarus have started.Russian negotiator says interested to reach an agreement with Ukraine as soon as possible.Russian central bank raises key rate to 20% to fend off risks of ruble depreciation

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s