Pair is only in a 31 pip trading range
The EURUSD is choppy sideways in a narrow trading range. That range is only 30 pips which is well below the 22 day average of 94 pips (around the month of trading). There is room to roam traders.
The high for the day reach 1.1952. The low has been down at 1.1922. In the process, the price has sideways through a lower channel trendline at 1.19335. Watch that level for intraday clues. Stay below would be more bearish. Move above and kinda swings the bias more in the bullish favor.
On the downside, the 1.1915 level was the swing hi from August 6 and also a swing high in trading yesterday. After breaking above the level yesterday the price raced to the day's high. The correction stalled ahead of that level at 1.19172.
So getting below the 1.1915 level would be more bearish in the shorter term technicals. The break would look toward 1.19043 and then the 38.2% retracement of the move up from the August 14 low at 1.18947.
On the topside the highs for the day and the high from yesterday at 1.1965 would be upside targets to get to and through.
Remember there is room to roam today. Keep your eyes open for a momentum break (in either direction). We may not get to the 22 day average range of 94 pips, but is unlikely that we and with a 30 pip trading range for the day either.
