Name: EURUSD neutralizes the price action heading into the weekend
Uploaded: 2024-02-09T18:07:17.000Z
Description: The 100 and 200-hour MA is defining the trading range with the 100-day MA between those levels. That neutralizes the technicals for the pair going into the new trading week.

EURUSD neutralizes the price action heading into the weekend

The 100 and 200-hour MA is defining the trading range with the 100-day MA between those levels. That neutralizes the technicals for the pair going into the new trading week.

Greg Michalowski

Friday, 09/02/2024 | 18:15 GMT-0

The EURUSD has neutralized the price action from a technical perspective by holding support and resistance against comment technical levels.

More specifically, on the downside today, the 100-hour moving average stalled the fall. That moving average currently comes in at 1.0762.

On the topside, the 200-hour moving average (and the 50% of the move up from the October 2023 low) stalled the rise. That moving average and 50% comes in at 1.0793. .

In between those two MA extremes sits the 100-day moving average of 1.07804.

So as we head into the end of week, and into the new trading week, the EURUSD is centering between support and resistance levels defined by the hourly MAs. Traders in the new trading week will be waiting for the next shove outside those technical levels.