The EURUSD is stretching higher and in the process has been able to extend above its 200-day moving average and 200 bar moving average on the 4-hour chart (see green lines on the chart above). Both of those levels come in at 1.0825. Can the buyers keep the momentum going above those key moving average levels.
The high price for the week stalled near the 38.2% retracement of the move down from the December high during yesterday's trade at 1.0864. That is the next target on the topside on further upside momentum.
Meanwhile, the GBPUSD remains between its 100 bar moving average on the 4-hour chart and the 200 bar moving average on a 4-hour chart. The 100 bar moving average comes at 1.26217. The 200 bar moving average comes in at 1.26558 (see blue and green lines on the chart below).
