The EURUSD has been in rally mode since testing key support at 1.1730. We discussed this area in the December 17 weekly forecast. A second sign that bulls were in control came a week later. The bullish pin bar that formed at 1.1855/60 hinted at a move higher. After nearly 48 hours of consolidation, the single currency exploded higher toward the 2017 highs. That brings us to this week’s price action. Over the weekend I had a level drawn at 1.2040. However, the last 48 hours have given me a reason to believe the ‘true’ level is closer to 1.2070. As you can see from the chart below, 1.2070 is the August 29, 2017 high. ... (full story)