EURUSD up for 4 straight days (working on day 5 today)
The EURUSD eked out a small 1 or 2 pip gain yesterday keeping the up streak alive. The pair has now moved up for four consecutive trading days (we are in day 5 now and higher vs the close at 1.21174.
Looking at the hourly chart, the 1.21507 to 1.21552 is the next upside target area to get to and through ahead of the high from January 26 at 1.21746 and the January 22 high at 1.21889.
The move higher today was helped by holding support against day upward sloping trendline (see red numbered circles). That trend line currently cuts across at 1.2122. Stay above keeps the buyers firmly in control (it also keeps the pair positive for the 5th consecutive day).
With a trading range of only 36 pips (the 22 day averages 78 pips). There is room to roam in the pair. Get above the next target and the buyers could make a play for the next swing high levels.
