Ups and downs....
The NY trading pattern has shown it's colors for the EURUSD traders. The pair fell in early trading after rising during the London morning session The fall took the pair below the close from Friday, but could not take out the Asia-Pacific low at 1.0718. The market has rallied back up toward the 200 and 100 bar moving averages at the 1.07585 and 1.07644 respectively. The high price has banged against the 200 bar moving average (green line in the chart). The 50% is also near that level at 1.07577. Sellers used the technical level to put a lid on it (see prior post)
I have to give the sellers the advantage below the MAs, although the markets seems to have a little of the ups and downs in the action today.
