Will it stay that way?
Not likely..
The trading range for the EURUSD today is 61 pips This is well below the average over the last 22 trading days (that range is artificially high at 174 pips but still....). Looking at it the other way, the lowest trading range for 2015 is 53 pips (on Feb 25th). The next lowest range has been 63 pips (On March 3rd and February 13th) Is April 9th worthy of a low range type day for the year? I don't think so.
With the high for the day at 1.0788 and the low for the day at 1.07288, one of those extremes will likely be broken.
Which one will it be???? (you can weigh in)
Technically, the price fell below the 1.0759 level (50% of the move up from the March 13th low and the low price from September 2003). The next support target at 1.0714 was not quite reached. The current price is back above the 1.0759 level by a few pips. That level might be a clue for trading today (a line in the sand to monitor). Stay above and the buyers remain in control. Move below and it is a bearish story.
