EURUSD held the support outlined in the morning kickstart video and bounced. What next?

September 20, 2024 at 08:22PM
Earlier today, in the kickstart video, I outlined the following key support level for the EURUSD. That level was shown and outlined between 1.1131 and 1.11399. Here is that clip….

So what happened?

Below is the chart of the price action today. Of not is the low price stalled between the level outlined in the above video from the start of the US trading day. The price spiked up to 1.1175. The current price is at 1.1164.

What next?

The 1.1184 to 1.11897 remains a target on the topside. The 1.1184 level was initiated as a technical level going back to 2021. Other swing highs are going back to August up to 1.11897. The point is that buyers on Wednesday Thursday and Friday stalled near that area. The high price for the year reached in August extended up to the 1.1200 level. That will also be important on the topside.

On the downside, the holding of the 100 hour MA and the swing level has increased the levels importance.

This article was written by Greg Michalowski at www.forexlive.com.