The EURUSD buyers have taken the price to a new high for the day, and in the process is moving above its 200 hour moving average at 1.05358. At the same time the price is moving above a swing area on the daily chart at 1.0533.
Is the “horse trying to get out of the barn”. We need to see additional momentum, and the jobs report is coming up tomorrow, but yields are lower, and Mary Daly is saying that the yield rise may take the Fed out of raising. That doesn’t mean they will ease anytime soon but price action is trying to show some dollar selling momentum.
This article was written by Greg Michalowski at www.forexlive.com. Source