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US dollar drifts in quiet trade...Draghi coming up

Discussion in 'Technical Analysis' started by ForexLive, Jan 25, 2016.

  1. ForexLive

    ForexLive Forum Member

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    A wiggle here. A waggle there. The major pairs drift. Draghi due to speak at 1:00 PM ET EURUSD. The EURUSD has drifted lower over the last few hours of trading. The pair just peeked below the 100 bar MA on the 5- minute chart in the process and the move did not exactly solicit a bunch of stops from intraday traders. Does the wiggle turn to a waggle (i.e. head back up)? PS Draghi is due to speak shortly. A move below the 100 and then 200 bar MA will get trader thinking lower again. It really sits on the fence.

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