January 27, 2023

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EURUSD trading up and down. Back below its 100 hour moving average

1 min read

Ups and downs

The EURUSD is trading up and down today. The support near the 1.1800 level ended up holding in the Asian session. The price moved above the 100 hour MA in the London/European session but stalled ahead of the overhead 200 hour MA at 1.18337 (green line – the high reached 1.18313).

Ups and downs

In between sits the 100 hour MA and the 38.2%. The price is changing above and below that level at 1.18148.  

The ups and downs continue, with the 200 hour MA as the level that needs to be broken and stay broken on the topside. 

On the downside, the sellers want to see the price stay below the 100 hour MA/38.2% retracement but REALLY want to see the price stay below the 1.1800 level. 

Stocks are open. The major indices are mixed (Dow down, modest gains in the S&P and Nasdaq).

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