The price of the EURUSD stayed below the 200 hour MA in the current hourly bar

The EURUSD moved to a new session low in the current hourly bar. Helping the bearish bias was the move back below the 200 hour MA at 1.11091. The current hourly bar also stayed below that MA level.

The price of the EURUSD stayed below the 200 hour MA in the current hourly bar

On the downside, the 1.10921 is the low from yesterday and the low for the week. The high for the week was on Monday at 1.11788. Overall, that is a range of only 86 pips or so. That is not a lot.

Do we extend and strive for at least 100 pips on the final day of the week?

The next downside targets come in at the 50% midpoint of the move up from the October 15 low at 1.10848. A lower, upward sloping trend line comes in at 1.10763. That would get the range at least close the century mark.

Having said that, there is no requirement for a 100 pip trading range (and it is Friday as well). Although an outiier in the past, in 2019, there have been 7 weeks with ranges less than 100, with a low of 68 pips during the week of June 23.

The key for traders will be that 200 hour MA above. Stay below, and there is a shot for more downside. Move above that MA, and the selling momentum likely fizzles.