EURUSD traded at the year's high

EURUSD traded at the year’s high

The EURUSD has seen the price move down in 2021. In fact the high for the week was reached in the first week of the year (on January 6) at 1.23488. The low for the week was reached toward the end of November at 1.11853 (on November 24).

FX SIGNALS

The high low range was around 1163 pips which was better than the 687 pip range through the first nine months of 2021. A total of about 481 pips was added since September 29.

EURUSD traded at the year’s high

Since bottoming on November 24 at 1.11837, the high price has extended to 1.13823 (or about 199 pips). The range for December has been more narrow at about 138 pips with a high price of 1.13592 and a low price of 1.12208 with lots of ups and downs.

Technically, looking at the weekly chart the move back to the downside in 2021 has seen the price move back below the 100 week moving average (blue line) currently at 1.16398, and the 200 week moving average (green line) currently at 1.15282.

After breaking through those levels and reaching the November 24 low, the price has been waffling above and below the 61.8% retracement 1.12895 as traders ponder the next move.

The 50% retracement
The 200 week moving average
The swing area between 1.14927 and 1.15236.
The 100 week moving average at 1.16398
Having said that the low for the year did stall near a swing area going back to 2018 between 1.1162 and 1.1211.

Traders are leaning. Falling and Rising Wedges

Drilling to the hourly chart below, the consolidation has converge the 100 and 200 hour moving averages near 1.1288. Those moving averages will be the defining technicals for the short/intermediate term bias. EURJPY Bounces Off a Key Resistance

Forex Trading Signals

In trading today, the price low stalled right against those levels and has seen a move to the upside. The high of that red box comes in at 1.1359. USDCHF Price Breaks Up $0.91

Move below the moving averages in the new year and that bias shifts back to the downside (bears). EURUSD Price Will Resistance Level at $1.20 Holds

The Various Indicators Used by Forex Trading Signals

EURUSD traded at the year’s high – Creating a Trading Plan

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