The 1.4000 stage has been a ceiling yesterday and once more at the moment
The EURUSD peaked yesterday at 1.14014. In the present day the excessive reached 1.1400 and stalled once more. The 1.1400 stage is making a pleasant pure stage that merchants can lean in opposition to. The 61.eight% of the transfer down from the November 19 excessive is across the space at 1.13933.
The transfer decrease has taken the value down towards the 200 hour MA (inexperienced line within the chart above). The market has been buying and selling above and under that MA over the past three days. I can’t say that it has been a powerful stage of help or resistance because the market waffles on the week’s excessive space, however it may be a barometer for the bulls and the bears. On extra weak spot, the 100 hour MA at 1.13414 will probably be eyed. Sellers have an edge at the moment after the height at 1.1400 stalled on the prime.
The vary for the EURUSD is a modest 43 pips. The 22 day common is 81 pips. So vs the common the vary is simply 53%. There’s room to roam on a brand new extension (38 pips to the common). The sellers are making the largest play at the moment.