Hanging around 100 and 200 hour MA
The EURUSD is hanging around the 100 and 200 hour MAs at 1.1755-63 (blue and green lines). The pair is back in the meat of the up and down trading range. The low today stalled right at the 50% midpoint of the move up from the low last week at 1.17445. It can go either way.
Helping the shorts is the failure of the move above the topside trend line. That line was broken yesterday, but could not reach the high from last week at 1.18457. The high stalled at 1.18267 (the high was really not tested). The price today, fell back below that trend line. That line will be eyed on retracements now (at 1.1784 currently).
The 200 week MA this week comes in at 1.1757. We trade around that level. PS. the price has been trading above and below the 200 week MA over the last 4 trading weeks. That suggests the buyers and sellers are really not that sure of the next move.
The 38.2% of the move down from the 2014 high comes in at 1.1735. Yesterday the price dipped back below that level but could not muster much momentum (low reached 1.1730).
The market is stalling at neutral levels. Looking for the next push.
