breaking news EURUSD mired in a day of highs and lows

EURUSD had a volatile trading session, currently at 1.06034. The high price hit 1.0669, briefly breaking above its 100 hourly moving average (blue line in the chart above). However, the momentum could not be sustained causing the price to reverse course. The downside move halted near a modest swing zone between 1.0611 and 1.06143 (see the red numbered circles in the chart above), bringing EURUSD price back below the moving average 200 hours, currently at 1.0627 in the process (green line).

It should be noted that the price has been fluctuating around the 200 hourly moving average over the past few hours. There are no guarantees.

Due to overall market volatility, price streams can change quickly. Yesterday’s trading saw considerable volatility with the price mostly trading below the 200 hourly moving average (green line near 1.06349 yesterday) and the 100 day moving average (blue line currently at 1, 05611). This resulted in multiple hourly bars up and down, creating a difficult environment for traders.

Today’s price action showed a more consistent trend, moving first up, then down, and currently attempting to move up. Despite this intra-day continuity, the persistent volatility makes it difficult to commit in a specific direction.