EURUSD trades between swing areas

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EURUSD trades between swing areas

<p>The EURUSD is lower on the day and trading near the lows, but off the lows.  The high prices stalled near the top of a swing area between 0.9723 to 0.97506. ON the downside the price fall stalled near another swing area between 0.96706 and 0.96836. The current price is trading at 0.9696 between those two levels. </p><p>Overall, the bias is down, but there is some downside apprehension at the aforementioned swing area in the short term.  A move back above 0.97506 would hurt the short term bearish bias. Closer resistance will be eyed at the 61.8% of the move up from the September 28 low. That comes in at 0.97123. The price has traded above and below that level today. The traders are more focused on the swing areas now, but it could be a short term barometer. Be aware.</p><p>On the wide, look for a break outside the outlined swing areas. </p>

                This article was written by Greg Michalowski at forexlive.com.

Source: EURUSD trades between swing areas

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