While the stocks react to the downside on Ukraine tensions, gold soars, interest rates move down on safety flows, the EURUSD remains stuck between the 100 hour MA below and the 200 hour MA above (which was the picture at the start of the NY session).
Much ado about nothing I guess for it.
The 200 hour MA is moving lower and is down to 1.13853. The 100 hour MA is also moving lower and is at 1.1348. The current price is trading at 1.1365 - 20 pips away from the higher MA level, and 17 pips from the lower MA level.
Although the price is stuck in the mud with buyers and sellers battling it out, traders will still be waiting for a break and run in the new trading day. A break above would next look toward the 100 day MA at 1.14001. On a break below, the 1.1329 level followed by the 50% of the move up from the January low at 1.13075 would be targeted.
In the meantime, it is much ado about nothing.
