Earlier test held. This time, there is a break
The EURUSD has broken above its 100 hour MA at 1.1762. The high just reached 1.1773 as stops were triggered on the break. The 1.1800 and then the 38.2% of the last move lower at 1.18133 and the 200 hour MA at 1.18187 are other targets now.
Traders should look to keep the 1.1762 as support now.
Earlier today, the pair fell below the 1.1709-20 area. That was home to the 200 week MA at 1.1709, the swing high from Aug 20, 2016 at 1.1711, the low from last week at 1.1716 and the 38.2% at 1.1720. All that was broken to the downside but then had the break fail. That helped with the bullish move today.
Now we get another break. This time to the upside. Can it keep the momentum going and move toward the upside targets. I give the buyers more control on the break, with more work to do.
