The EURUSD is in a narrow 43 pips range today as the stock get ready to open. level. The Case Schiller data was weaker than expected which may lead to a weaker stock opening.  The price is at the 100 hour MA which is currently at the 1.3062 level.  The close from yesterday came in at the 1.3057.

There is a topside trendline on the hourly chart at the 1.3081 level.  If the price can remain above the 100 hour MA, this is where the price should move toward. The high for the day has come in at 1.3082. This is the same high as yesterday.

ON the downside, the 200 hour MA and trendline support come in at the 1.3047-49 level.  A break below this level is needed to push the price further. The low for the day at the 1.3040. The low from Friday at 1.3025 will be another downside target.

I am expecting a little more activity today versus yesterday, with an extension of the narrow trading range at some point. Stocks are open today. There is chatter in the market about Italian bond auctions later this week.  This should lead to some jockeying by traders.

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