The EURUSD has experienced a volatile trading session, currently at 1.06034. The high price reached 1.0669, briefly surpassing its 100-hour moving average (blue line in the chart above). However, the momentum could not be sustained, causing the price to reverse course. The downward move stalled near a modest swing area between 1.0611 and 1.06143 (see red numbered circles in the chart above), taking the EURUSD price back below the 200-hour moving average, currently at 1.0627 in the process (green line).
It is worth noting that the price has been fluctuating around the 200-hour moving average for the past several hours. There is no guarantee.
Due to the overall market volatility, price flows can change quickly. Yesterday’s trading saw considerable volatility, with the price mostly trading below the 200-hour moving average (green line near 1.06349 yesterday) and the 100-day moving average (blue line currently at 1.05611). This resulted in multiple up-and-down hourly bars, creating a challenging environment for traders.
Today, the price action has shown a more consistent trend, first moving upwards, then downwards, and currently attempting to rise again. Despite this intraday continuity, the persistent volatility makes it difficult to commit to a specific direction.
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