EURUSD spikes higher as London/Europe traders head to end of day/month

Spikes above topside trend line and runs higher

Is it month end? Maybe. I don't see a news headline but the EURUSD has spiked higher over the last 10-15 minutes.

Looking at the 5-minute chart, the pair had been in a 29 pip trading range with the topside and bottomside trend lines converging. The price moved above the topside trend line and it ignited a buying spree, but putting things into perspective, the move above the trend line is about 14 pips. The move from the last low is about 31 pips. It happens.

The move higher is getting closer to the key line in the sand area defined by the 200 week MA and the October 6 low at 1.1668, the 100 hour MA at 1.1674. The 100 day MA at 1.16875 is the last line of defense for the shorts.

I do expect the sledding to get tough up here for the bulls. Look for sellers to lean against this key area.