EURUSD stalls ahead of 100 day MA. Wanders lower.

Technical Analysis

Author: Greg Michalowski | dollar

Not a lot going on folks

The range remains the same at 45 pips for the EURUSD.  As per the earlier post, the 1.1716-24 was support. The price fell below that support level by 3 pips. Earlier in the day, the price moved above resistance at the 100 day MA at 1.17544, but only by 3 pips before moving lower. 

IN the NY session, the price got close to the 100 day MA again (high reached 1.17516), but sellers have pushed the price back lower.  We trade at 1.1738.

So the range continues to be defined by the 100 day MA at 1.1754 above and the swing area below at 1.1716-24 and the market ping pongs between the two awaiting the next push.   At some point there will be a push, it is just hard to see right now, when that will be.  The best we can do is be prepared.