The EURUSD has been trading in a narrow 32 pip trading range for the day with a low near the low of a swing area at 1.0878 and a high near 109097. That level was the high from not last week, but the week before that (starting on January 8).
The narrow range may not be something great for traders today. The ups and downs are whipping the price around. However going forward, traders will be looking for something better. That is, can the price break support or resistance and run.
In this video, I outline those levels in play and what needs to happen to either increase the bullish bias in the pair (lower USD) or increase the bearish bias (higher USD).
This article was written by Greg Michalowski at www.forexlive.com. Source