EURUSD technicals
The EURUSD is trading up 2.38%. That is the largest percentage gain since December 2015 when the euro rose 3.06% in a single trading day.
Technically, the price is stretching toward the highs from 2024 which reached between 1.1200 and 1.1213. The high price today has so far reached 1.1144.
Going back to 2024, I’ve outlined a swing area between 1.1001 and 1.1213 as the up-and-down range between August 19 and October 4 when the price broke to the downside. In between there is a modest swing area near 1.1100.
That is the extreme and could be the new trading range for now. If the price breaks above 1.1213, that would open the upside. ON the downside, the 1.1000 would need to be broken to increase the bearish bias.
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