EUR/USD starts to look for a near-term break
EUR/USD tries a run above the 100-hour MA
Buyers are looking for a move in the pair once again, as we now head towards a test of the 100-hour MA.
As
mentioned earlier, the 100-hour MA (red line) and 200-hour MA (blue line) will provide for narrow trading as traders seek the next near-term direction in the pair.
mentioned earlier, the 100-hour MA (red line) and 200-hour MA (blue line) will provide for narrow trading as traders seek the next near-term direction in the pair.
So, let’s see if we get any extension of the trading range or will it be a false break like the one we had in late trading yesterday.
Do keep in mind that there are quite a number of
option expiries near current levels at play too that should keep the pair contained from a major breakout.
option expiries near current levels at play too that should keep the pair contained from a major breakout.
Leave a Reply
Want to join the discussion?Feel free to contribute!