The euro ran stops above yesterday’s high of 1.1362 in a quick 40-pip rally.
The move was entirely stop driven. I noted yesterday that the euro must be a Seattle Seahawks fan because it fell 1 pip short of that level. That helped to cluster buy stops there and more were above other recent highs stretching up to 1.1382.
Euro hourly
Update: The euro continues higher to 1.1423. The high last week was 1.1425; EUR/USD is very-much respecting the levels.
Update 2: The rally continues to 1.1447. The orderboard shows sellers at 1.1450.
