The 50% retracement comes in at 1.12241. The high reached 1.12202 today
The EURUSD nearly made it to the 50% midpoint of the 2019 trading range. That midpoint comes in at 1.12241. The high for the year was reached on January 10th at 1.15696. The low was reach more recently on October 1 at 1.08787
Technically, the pair today looks set to close above a ceiling in October and September at 1.1174 to 1.11787. That ceiling was broken earlier in December on the way to a high at 1.11985. The high from Friday also moved above that area (to a high of 1.11875). Each of those runs higher pulled back.
The close above that level today will set that area as a close risk level. Stay above, and the bulls remain in control. Of course traders will want to see the price get and stay above the 50% midpoint level as well. Today that could not be done, but if broken, the next target will be a topside trend line on the daily at 1.12353 (and moving lower). Above that is the August high at 1.12489.
