Trend line support held but 100 hour MA above is holding too
The EURUSD trades quietly (shhhhhhh) with support at a lower trend line (at 1.1220 currently) and resistance against the 100 hour MA at 1.12463. Not much wiggle room there.
The ECB decision and press conference is the next major event (I will say the beige book is not all that important with "modest" and "moderate gains" being the likely words used to describe activity). Regarding that decision, Ryan's preview outlines what he expects. If you have not read it, do so NOW. Excellent stuff.
Technically, if the 100 hour MA is broken, there could be a wander up toward the 100 day MA at 1.1291 over time. Before then, the 200 bar MA on the 5 minute chart will be eyed (at 1,1261 -see chart below).
