Watching the 100 hour MA for bias clues.
The EURUSD moved to the highs from final week and located leaners in opposition to the realm. The worth has come again down and is getting nearer to the 100 hour MA. On Friday that MA moved beneath however when the pair bought shut th the Thursday low and the 200 hour MA (inexperienced line), consumers got here again in. The tip of week squariing didn’t assist the worth motion (extra up and downs).
Talking of which, with the worth shifting up and down, merchants have to be affected person and decide spots. Earlier in the present day, the worth moved again above that MA and consumers leaned in opposition to the extent. That helped to push the worth again up (with ups and downs). Now that the highs had been reached, the oppposite appears to be in play.
Sooner or later, this quagmire shall be damaged. On the draw back, a fall beneath the 100 hour MA could be the first step. Then merchants shall be trying on the decrease pattern line and 200 hour MA (lows from final week at 1.1316 space.
On the topside, taking out the highs is the apparent step.