EURUSD up and down volatility continues | Forexlive

The EURUSD is continuing its ups and down.

The good news for the sellers is that the high from Monday stalled the rise. That turned buyers into sellers.

The good news for the buyers is that the low just reached stalled at the high of the old swing area from before this week at 1.0874 area. That turned sellers into buyers

So its “working” for both buyers and sellers at the extremes. The price is currently near unchanged.

The bad news is although the pair is above the highs from last week, the pair is in a new up and down range. Other support below stalled at the rising 200 hour MA and today, the 100 hour MA is also in play at the low.

So we have to deal with it, and take the clues in the short term, as giving short term trade ideas. At some point – and it might not be until next Wednesday when the Fed meets (although there are earnings and other stuff like jobs on Friday and CPI soon thereafter) when there is more clarity.