Trade wars heats up
With the US/China trade wars heating up, the EURUSD moving to new session highs on the flows.
The EURUSD is trading is up testing the swing highs from April 22 and again on May 1 at the 1.12617-1.1264 area. The high just reached up to 1.1261. A move above that level opens the door for a move to the 1.12780-936 area (other swing areas).
Drilling to the 5 minute the close risk is the high from Friday. Other bias/risk defining levels are the 38.2% at 1.12487 and then the 1.12447 area. Those levels represent the 38.2% and 50% of the move higher. A move below each weakens the bull bias just a little more.