EURUSD on the hourly chart
The EURUSD is trading in a narrow 30 pip trading range. The 22 day averages around 71 pips. There is room to roam, but "the market" is unsure the next move. So traders look for the next shove.
The pair is trading above and below its 100 and 200 hour moving averages which are converged at 1.12884. The current price trades just above at 1.12918, but the traded near equal amount time above and below the level today.
The high price has reached 1.13019. That is right around the 50% midpoint of the range since November 30. On the downside, the low was reached in the early Asian session at 1.12737.
At some point traders will take the bull by the horns (or the bear by the ears) and run with it. Look for break and run.
