Can you trust it?
The EURUSD has been choppy up and down during most of the NY session with an upward technical tilt.
The price has stayed/closed above its 200 hour MA (green line) over the last 7 trading hours, but in between there have been ups and downs.
The high from the day reached 1.1386. The high hourly closed reached 1.1376. We currently trade at that level and above the 100 hour MA (at 1.1370 - blue line).
The 1.1390 is the 61.8%. The 1.1400 has been around a swing level and is a natural target level. Above that the 1.1412-18 is another swing area ahead of the December high at 1.14419.
I sound like a broken record, but move below the 200 hour MA at 1.1358 area would be more bearish.
Tomorrow the ECB will keep rates unchanged but are expected to be true to their word and announce an end to QE. The market will be focused on growth and inflation expectations.
