Forex Technical Analysis: EURUSD doing a lot of nothing today.

Discussion in 'Technical Analysis' started by ForexLive, May 9, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Price action is non trending The price action in the EURUSD is non trending. Looking at the 5-minute chart, the pair is mired in a 44-pip trading range. The price tried to extend higher on one look and failed. It tried to extend the range lower on one look and failed. The close Friday was at 1.1403. The price is trading around 1.1403. The 100 and 200 bar MA are nearly identical (see blue and green line in the chart below). The price is above those MAs (bullish?). The price is below the 38.2% at 1.14134 (and held on the last swing high). That is more bearish. The 5-minute chart is a coin toss.

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