The Euro has gone back and forth during the course of the trading session here on Wednesday. And at this point in time, it’s probably worth noting that we are hanging around between the 50 day EMA and the 200 day EMA, which of course, both of those indicators tend to attract a lot of attention.
If we can break above the top of the shooting star from the Tuesday session, it does open up a potential move to the 1.0950 level. Underneath, if we break down below the 50 day EMA and perhaps the micro swing low, then we could open up a move to the 1.07 level. In general, this is a market that I think continues to see a lot of choppiness and volatility and quite frankly, that’s not a huge surprise.
