EUR/USD surge hits key level
EUR/USD’s spike to the $1.1858 level has brought out the sellers, with the risk being that this rally has run its course. A bullish signal will be a move back to $1.1858, and a close above this, and then ideally above the October high at $1.1879. This would then open the way to the $1.20-$1.21 peak from September.
A turn lower targets $.1662, and then $1.1574. The four-hour chart has seen its downtrend from the September high broken, so the retracement overnight may see the line tested from above, before moving higher.