The 200 hour MA and low for the week is support. A bunch of MAs above. We are stuck
The EURUSD is stuck. The range for the week is 51 pips. The lowest range going back to 2002 for a trading week is 53 pips. The low today reached 1.10464. The low for the week reached 1.10459 in the first hour on Monday. The price could not extend. We remain stuck.
Can we get unstuck?
On the topside today, is the 100 hour MA, the 100 and 200 bar MA on the 4-hour chart come in at 1.10697 to 1.1073. Although the price today cracked above that area and raced up to the 100 day MA at 1.10843, the pair found sellers against that MA and moved back below the cluster for hourly and 4-hour MAs.
To get unstuck, something has to give. Those areas are the levels to get to and through.
Is there a tilt?
Making things easy, the price today spent most of the time below the hourly and 4-hour MAs AND found sellers near the 100 day MA on the spike higher. What is more supportive is the 200 hour MA and the low for the week. With the price below those two levels, the market is splitting the difference but the tilt is a little to the downside technically.
