technical look at the EURUSD

7月17日

For the EURUSD, it based yesterday at the 50% midpoint of the move down from the December 2023 high (see video yesterday "EURUSD bounces off the 50% midpoint, giving the buyers the "go-ahead" to push higher"). That gave traders the go-ahead to push higher and indeed the price pushed higher today. The move to the upside has now extended by the 61.8% retracement at 1.0933 and tests the high going back to March 21 at 1.0942. Above that level and chairs aside to target the other high prices from March at 1.0963 and 1.0981.