38 pip trading range today for the EURUSD. Up and Down.
The EURUSD moved above its 200 hour MA yesterday and stayed above that MA level.
On Wednesday this week, the price tried to make a break but failed, and the price fell back but found support against the underside of a broken trend line. The pair has moved higher since then, and the move above the 200 hour MA is a step in the bullish direction.
Today, the price action is up and down in a narrow 38 pip trading range. The average over the last 22 days is 78 pips. There is room to roam on a break.
Technically, the pair moved above a swing area at 1.21784 area to a high at 1.21889. The 50% of the 2021 trading range for the pair (or the month's trading range) is 1.22007. That is the target on more upside momentum.
ON the downside (we are nearer the low in the up and down session), a break to new lows will have traders looking toward the 200 and 100 hour MAs.
