Forex Trading: EUR/USD Between The Goalposts

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Forex Trading: EUR/USD Between The Goalposts

By Greg Michalowski on July 13, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

eur-usd

EUR/USD between the Moving Average goalposts today as light economic data leaves traders guessing as to the direction of the markets. 100 MA (blue) on the bottom at 1.3941 and 200 MA (green) on the top side at 1.3979. There is also a wedge forming in the pair as seen by the trendlines. We will need to see the pair break one of these to give us a clue into the short term direction. Of note, but well below the current price, is the daily fibonacci 38.2% level at 1.3619.

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