Based at 100/200 hour MA today.
The EURUSD is up testing the high from December 4 -which is the high for the month, the year and is the highest high going back to April 2018. The run to the upside has taken the price above what was an old floor from January, March and April 2018 at the 1.21534 to 1.21641 level. The price of the EURUSD moved above that old floor earlier in the month. On Friday, the high stalled at 1.2162 (within the range).
Drilling to the hourly chart, note the upper yellow area. That corresponds to the floor from 2018 between 1.21534 and 1.21641. The tries above that area back on December 3 and December 4 could not sustain momentum with the high reaching 1.2177. Today, the high moved up to retest the high for December at that level and has backed off into the daily swing area.
Watch that swing area for bias clues. Move back below could lead to more downside as buyers give up on the break again (and the triple top).
On the downside, the 100/200 hour MAs at 1.2121 area, are levels to eye. In the Asian session, the pair stalled against those MAs and pushed higher. A trend line for December cuts across just below that area as well.
