The buyers leaned at the support and other buyers joined in....
When the range for EURUSD on the day is a narrow 27 pips and you get a 21 pip bounce off the cluster support area (see earlier post here) at 1.10509-544 area, it seems like a big deal. I guess it is. Traders who risked a little at the cluster support, made "more than a little" on the 21 pip move.
The price of The EURUSD has moved up to test the falling/flattening 100 bar MA on the 4-hour chart at 1.10742. That is where the selling started in the Asian sesssion.
The challenge now is can the price extend above that MA line? If so, we could see a move toward the 100 day MA at 1.10882. That is near the high from Monday as well at 1.10894. Longs from above have a choice here. Take the money and run or look for more?
PS the 22 day average range for the EURUSD is 43 pips.
