Price holding below resistance levels today keeping the sellers in firm control
The EURUSD is back down testing the lows for the day near 1.12354. That came after the correction off of the low to the price back up toward resistance near 1.12633 (the high ticked to 1.12647 and reversed lower). Sellers remain in firm control.
Earlier today, the high price stalled near another swing area between 1.12876 and 1.12923 (see green numbered circles). Stay below that level kept the sellers more control.
Are the buyers winning? Not at all.
What would change the sentiment?
Getting back above 1.2633 and then the 1.1287 to 1.1292 level would be step one. The next requirement would be for the buyers to take the price back above the 100 hour moving average (blue line). That level comes in at 1.1313. The price on both Thursday and Friday of last week tried to extend above that moving average, only to reversed back below and head lower.
Buyers are not winning. Sellers are in control.
