Trades between the 100 and 200 hour MA
The EURUSD is trading between the 100 and 200 hour MAs in trading today at 1.11988 and 1.12322 respectively. I call that condition "trading between the goal posts". The lower of those extremes are being tested after the weaker than expected inflation data out of Germany, but looks below the 100 hour MA (blue line in the chart below) did fail to ignite any momentum (low reached 1.1193) and traders seem to be using the level to define and limit risk at the moment. Although a break below is certainly another step in the bearish direction, the 200 day MA looms not far behind at 1.11813, while the 100 day moving average is further lower at 1.11457.