Breaks above last weeks high at 1.18622
The EURUSD has just broken above last weeks highs at 1.18622.
The pair is trading at the highest level since December 5th. The 61.8% of the move down from the November 27th high comes in at 1.18676.
The pair is also approaching the key swing low from June 2010 at 1.1876. That low was broken in January 2014, and it was not until this July 2017 that the price was able to get back above that level.
In 2017, the pair has had 24 trading days where the price closed above that level. The last was on December 1st. I think it remains a key barometer for market traders. The high just reached 1.1872. So sellers may be leaning with stops on a move above.
We just broke above the level and trade at 1.1880.