The EURUSD squeezes out a new week high...

Technical Analysis

Author: Greg Michalowski | eurusd

Close support at 1.1100 now

The EURUSD squeezed higher and in the process has moved above the 1.1100 to 1.1109 level. The high earlier in the week was at 1.1113. The new high just reached 1.1114 (by the slightest of margins).

Sellers stalled on the first look, but traders will look now for the 1.1100 level to stall the fall IF the buyers are to remain in full control.   Remember the 1.1100 to 1.1109 were swing lows before breaking breaking lower at the end of July.  

Holding the 1.1100 level, should give the buyers the courage to go for a stronger break.  

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