Last week the pair closed at 1.0611 area
- The EURUSD closed last week at 1.0611 (on Friday).
- On Monday the high for the week was reached at 1.0632.
- On Wednesday (around midday), the low for the week was reached at 1.0493.
- On Friday (today) the price is trading within a few pips of the close from last week at 1.0611 (trading at 1.0607 currently).
Back to where it all ended last week. There is a lot of symmetry in the chart for the week. What would make it even more balanced would be a close near the Monday high at 1.0632.
Technically, the pair stalled at the 200 hour MA yesterday.
Today, the pair based at the 100 hour MA (blue line). It had a London morning swing up and then down, but held above the low for the day (and the 100 hour MA - blue line). The last few hours has pushed away from the 200 hour MA with a more bullish run to the upside. The pair is consolidating near the highs, but staying above an earlier swing high at 1.0603. Is the 1.0600 the line in the sand for buyers on the Friday?
It is Friday. That can lead to choppy trading conditions. So traders tend to have short leashes in case the pair decides to quickly move against positions with some end of week flows. Be aware.
Do you buy the symmetry idea and a run to the Monday high? Hold 1.0600 and there is some room to roam.
