Yesterday EURUSD went back and forward without any clear direction but still closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests clearly neutral market, neither side is showing control.
Looks like EURUSD is in compression mode due to the narrow ranges that is making since Monday and to the inside day that it made yesterday. So get ready for an expansion day in the few days to come.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1301 (support) and a daily support at 1.1237.
"I trade to make money not to be right."