marctomarket.com / by Marc Chandler / November 14, 2017
This Great Graphic, created on Bloomberg, shows that the euro is approaching key area.
The white trendline drawn off the September 8, September 20 and October 26 highs comes in near $1.1745 today. Above there, the lower green horizontal line is the 38.2% retracement of the drop since the years high was recorded on September 8. It is found at $1.1760.
The euro has been bid through the 20-day moving average (green line) for the first time since the ECB meeting in late October. The five-day moving average (fuchsia line) is poised to cross above the 20-day average for the first time since before the ECB meeting.