The EURUSD trades between the 100 and 200 hour MA

  


Earlier run lower found support at the 61.8% retracement

The EURUSD has moved down and up and back down (marginally) in trading today. The initial moved to the downside was able to crack the 200 hour moving average (green line) and extend toward the lows from Tuesday and Wednesday and the 61.8% retracement of the move up from last week’s lows at 1.12549.

Earlier run lower found support at the 61.8% retracement 

Buyers leaned against that support area and push the price back up. The corrective high into the US session stalled just short of its 100 hour moving average at 1.1302. Recall that level was also the high from last week.  

The selling took the price back down to retest the 200 hour moving average at 1.12725 in the current hourly bar and bounced.

Overall, that puts the price between the goalposts defined by the 100 hour moving average above at 1.1302 (and high from last week) and the 200 hour moving average below the 1.12725.  We currently trade near the middle of the range at 1.1286.  Flip a coin. Look for a break.

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