The 100 day MA looms above. The 200 bar MA on the 4 hour is below
The EURUSD is confined to a narrow trading range that is confined in a moving average range.
The range is so far defined by the 200 bar MA on the 4 hour chart below at 1.10646. That MA stalled the fall on two separate attempts today. The 100 day MA above is at 1.10878. That MA was tested yesterday and the price rotated lower.
In between sits the 100 bar MA on the 4-hour chart at 1.10756. The 50% of the move down from the November 4 high comes in at 1.10817.
At some point there will be a push in one direction or the other. For now the battle lines are drawn and the buyers and sellers are battling it out.
