No one taking and keeping control.
The EURUSD held the resistance against the 100 and 200 bar MA on the 5 minute chart and took yet another look below the 100 day MA at the 1.1030 level. The low for the day at the 1.10232 was taken out - by a whole 1/2 a pip and the price has bounced back to the 1.1040 area.
The price is waffling back and forth at the moment. Both the buyers and the sellers seem to be trading as if they are walking on eggs. Near the NY session highs, the price stalled at the 100 and 200 bar MA (see earlier post). Near the 100 day MA, the sellers could not push too much lower. In fact, we have seen 5 separate looks below 100 day moving average today at 1.1030 level. Each failed. The sellers are now stepping aside and the price has just pushed up toward the 100 and 200 bar MA. The 1.1075 is the close from yesterday. The 200 hour MA is at 1.10797.
Resistance held. Support held (or failed again). Little things can be an influence but the sellers have had their shot. Now the buyers need to show me something (like move positive on the day). Overall however, don't really trust the market much today.
