December 4, 2022

Forex Solution

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EURUSD makes a break above 1.2200, but only to the next topside target area

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200 hour MA at 1.21854 has to hold if the buyers are to keep some control

The EURUSD extended higher and above the 1.2200 level in the process (see earlier post), but the subsequent run higher, found topside sellers leaning near a swing area between 1.22129 and 1.22199.  The high price stalled at 1.22174.

200 hour MA at 1.21854 has to hold if the buyers are to keep some control

The fall from the high has pushed the price back below the 1.2200 level and to a post high low of 1.2291. The 200 hour MA comes in at 1.21854. A move below that MA would not be great for the bulls/longs.  

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