The Euro hasn't broken a previous high in over a year and this past week the Euro flew through the previous high and is right at the high before that, looking strong to do the same. The Euro has a negative correlation with the Dollar and the Dollar looks extremely weak especially after this past NFP was not good at all.
I have marked a current range we could go into next and if we do range for a little or break the purple trendline, I see the Euro going back towards Jan. - Feb. '18 highs.
I have marked a current range we could go into next and if we do range for a little or break the purple trendline, I see the Euro going back towards Jan. - Feb. '18 highs.
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This weeks price action will determine where the Euro goes. It could reject this high pretty hard since we are a bit oversold on the RSI. That is the only factor I see in this. If it comes back under the red line it could fall the recent support.
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Re-Test Trendline and previous high?