The EURUSD has experienced a volatile trading session, currently at 1.06034. The high price reached 1.0669, briefly surpassing its 100-hour moving average (blue line in the chart above). However, the momentum could not be sustained, causing the price to reverse course. The downward move stalled near a modest swing area between 1.0611 and 1.06143 (see red numbered circles in the chart above), taking the EURUSD price back below the 200-hour moving average, currently at 1.0627 in the process (green line).
It is worth noting that the price has been fluctuating around the 200-hour moving average for the past several hours. There is no guarantee.
Due to the overall market volatility , price flows can change quickly. Yesterday's trading saw considerable volatility, with the price mostly trading below the 200-hour moving average (green line near 1.06349 yesterday) and the 100-day moving average (blue line currently at 1.05611). This resulted in multiple up-and-down hourly bars, creating a challenging environment for traders.
Today, the price action has shown a more consistent trend, first moving upwards, then downwards, and currently attempting to rise again. Despite this intraday continuity, the persistent volatility makes it difficult to commit to a specific direction.
