EUR/USD nears a fresh three-year high

Technical Analysis

Author: Adam Button | eurusd

EUR/USD closes in on the January high

The euro is up 58 pips today to 1.2508 today and is now less than 30 pips away from the January high.

It's been a rapid recovery for the euro from last week's low of 1.2200 and the US dollar is absolutely crippled at the moment.

It could get very ugly, very quickly for the US dollar.