Earlier declines reversed. Rally stalls near old swing area.
The EURUSD continues the up and down volatility. The pair moved lower ealier and took out the low from yesterday by a few pips, but fell short of the 200 hour MA. THe subsequent rally took the price back above the 200 hour MA and raced toward and old swing area and highs for the week (yellow area). That area found sellers and the price moved back toward the 100 hour MA at 1.1332.
Draghi will be speaking ahead. Fed Williams and Daly are still speaking on a panel. Clarida (12 PM ET), Bullard and Quarles (both at 1:30 PM ET) speak later and the Pres. meets with China's Vice Premier Liu He at 2:30 PM ET. It's Friday too with weekend risk potentially adding to the volatility.
Meanwhile, stocks are taking the volatility well. The Nasdaq is up 50 point s or 0.67%. The S&P is up 12.85 points or 0.46%. The Dow is up 160 points. All are trading at highs for the day.
