New highs for the EURUSD as Europe works toward the end of week

The EURUSD has extended to a new session high as London/European traders look toward the end of week. The price is approaching the swing high from Monday near 1.10449. The high price from last Friday reached 1.10467. The 38.2% retracement of the move down from the July high cuts across at 1.10502. Getting about those levels would give buyers more control. Finding the sellers against that level would keep the sellers still more in play. The correction higher would look more “plain-vanilla” variety if the price cannot get above the 38.2% retracement of the last trend move lower.

This article was written by Greg Michalowski at Source