November 29, 2022

Forex Solution

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EURUSD returns back to to the 50% midpoint support

1 min read

50 % of the move up from July 21 comes in at 1.18296

The EURUSD has spent all of the last five hourly bars between the swing area between 1.18467 and 1.18507 and the 50% retracement of the move up from the July 20 low at 1.18296. 

50 % of the move up from July 21 comes in at 1.18296_ 

Earlier today, the price did move below the 50% level but only to 1.1827 before rebounding. The price also moved above the swing area reaching a high of 1.18567 (above 1.18507) but it too failed.  Twenty two of the last 26 hourly bars have traded between the swing extremes (within the 21 pip range).

The market is in a stall.  

At some point the price will extend. Traders will looking for the break and run.  You can too???  

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