<p>The EURUSD has continued the grind higher and has now reached the 100 hour MA at 1.0699 target (see earlier post). The high price just reached 1.06977 – just a pip or so short of that target.</p><p>You can expect some profit taking into the weekend in this area. The 200 hour MA is up at 1.0708 and it would take a move above that level, to increase the bullish bias. Recall from yesterday, the price stalled against the 200 hour moving average increasing the levels importance going forward.</p><p>Safe it to say, we will be going into the weekend with the price near the MA levels as the market ponders in the new week, whether the dollar moves higher (back down for the EURUSD) or lower (higher for the EURUSD). This area is a key barometer from a technical perspective. </p>

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

<p>The major US stock indices are trading to new session highs. The Dow Industrial Average has moved positive on the day. It currently trades at 114 points or 0.34% at 33811.00. At session lows, the Dow Industrial Average was down -179 points</p><p>The S&P index is trading down -12.16 point or -0.29% at 4078.20. At session lows the S&P was down -42.47 points.</p><p>NASDAQ index is down -75.1 points or -0.63% at 11782. At session lows the NASDAQ index was a down -182.62 points.</p><p>For the trading week:</p><ul><li>Dow Industrial Average is down -0.15%</li><li>S&P index is down -0.28%</li><li>NASDAQ index is up 0.57%</li></ul><p>Looking at the S&P sectors for the week, </p><ul><li>Consumer discretionary is leading the way with a gain of 1.57%</li><li>Energy is the biggest loser with a decline of -6.65%</li></ul>

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