October 24, 2016
EURUSD
The range for the day is only 40 pips. The low for the day (in the Asian Pacific session) was within a pip of the low from Friday. That low was the lowest level since March 2016. The high stalled just below 1.0900 (at 1.08992). The pair is lower on the day (closed at 1.0879). Traders had a shot to take the price higher off the double bottom, but could only get a 40 pip rebound. Sellers are in control. If the buyers are to be take seriously, a move back above the shorter term MAs is step 1 at 1.0880 and 1.0885. That is just the start.
Forex technical analysis: A look at some of the major currency pairs
