Trades in 25 pip trading range today
The EURUSD moved higher at the start of the day and moved above its 100 hour MA (blue line). The high stalled ahead of the recent swing highs from May 2 and May 7 at 1.1217-1.1218. The high price today reached 1.1212.
The NY session dip came back down and retested the 100 and 200 hour MAs at 1.11886 (both MAs are now converged). The price bounced.
The floor is set at those MA levels at 1.1188 (the 50% is at 1.11868 just below that level).
The ceiling is set at the 1.1212-1.1218 area.
In between can see a lot of up and down chop (as seen in the 5 minute chart below).
It is what it is as traders remain stymied by uncertainty with US/China, Brexit, and the global economy impact from each…Traders can only define the levels, lean and hope to make a few bucks as they wait for the break and run.