| As the market awaits the US jobs report, the EURUSD has positioned itself between key moving averages. On the topside the 100 day moving average and 38.2% retracement of the range since the April high is resistance near 1.0811. On the downside the 200 hour moving average 1.07312 and the 100 hour moving average 1.07151 would need to be broken to increase a bearish bias. The current price trades between the levels at 1.0763. Flip a coin. That is what the market is doing as it waits for the next shove. |
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Tags: Featured,newsletter
