December 9, 2022

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EURUSD cracks above MAs as London/European traders look to exit

1 min read

New highs for the pair

The EURUSD has cracked above its 100 and 200 hour moving averages as London/European traders look to exit for the day. The 100 hour moving averages at 1.25757. The 200 hour moving averages at 1.21887. Those levels now become risk levels for long’s looking for more upside.

New highs for the pair

The low to high trading range for the day is now up to 56 pips after being at 31 pips to start the NY session. That is closer to the 22 day average of 68 pips.

The next key target area comes in between 1.22129 and 1.22199 (see green numbered circles). Getting above that area takes the price into the upper extreme from last week trading which peaked at 1.22538 (there is an interim target between 1.22393 and 1.22448).

Looking at the strongest to weakest currencies as European traders head for the exits, the NZD is the strongest, while the USD is spreading his lead as the weakest of the majors. 

The US dollar is the weakest of the majors 

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