High falls short of last weeks high...
The EURUSD set another water mark but was not able to take out last week's high level. The high extended up to 1.1447. The high last week (Thursday) made it to 1.1453. The other recent water marks came in at 1.14379 and 1.14311. We currently trade at 1.1411.
So we sit near the middle above the rising 100 and 200 hour MA below (at 1.13868 and 1.13789 respectively) and the high water mark at 1.14534. The range today was extended to 75 pips (19 pips higher than the pre-NY session). We sit in the 127 pips that is now 7- days old. The low last week came in at 1.1326.
The battle continues. The lines are drawn. Traders are continuing to "lean". Today against the 200 hour MA below and the last week high above.
Which way do you expect the next break to take us?