Below 100 hours of MA. Above 200 hours of MA.EURUSD has been limited to 30 pip trading ranges over the past 12 hours or more. The range for the day is not much better at 37 pips. The price is higher on the day. The pair closed at 1.1964 yesterday and we trade at 1.1976 currently.
Technically, the top today has seen traders, leaning against the 100-hour MA (blue line in the chart above). Currently in 1.19958.
On the flip side of the coin, the 50% move it up from August 31 down at 1.19573. The 200 hours of MA is a little less than 1.19504.
The pair is not trendy and looking for a push.
Taking a look at the table of the week below, the pair on Friday of last week pushed to its highest level since December 2014 at 1.2092. The high got within a 4 pips delay of moving it down from the 2011 to 1.20968. The sellers leaned against that retracement and the 1.2100 natural, level of resistance.
Drilling down from the daily weekday, the price remains above a downward trend of the line at 1.1878. The 1.1910 is the top from the beginning of August. The 1.1876 level is the swing low, starting in 2010. These levels are targets below. Staying over, holds the bulls over in control.
In the last minutes, the price got a 50% drop and the 200-hour MA. So far buyers are coming in near the area with a low to 1.19535 so far. We have stretched the bottom by a few pips now