Trades below the 200 and 100 hour MA
The EURUSD is trading near the day's lows, but has seen the price run in both directions.
Looking at the hourly chart above, the price stalled in the Asian session near its 100 hour MA (blue line) . The subsequent rally breached the 200 hour MA (green line) but stalled at a swing high from yesterday's trading at 1.13239. The pair then fell again and this time cracked below the 200 AND 100 hour MAs.
We currently trade right at the 100 hour MA at 1.12919. Traders have taken a look back above the MA line but only by a pip or so. The sellers are trying to keep a lid on the pair.
The pair is still trying to find its way, but having a tough time commiting to higher or lower. The area between the 100 and 200 hour MAs is a neutral zone in the middle of the range. Trade above is move bullish. Trade below is more bearish. Flip the coin and hope for the "market" to go your way. That is what the price action and technicals are saying.
