The euro rallied slightly during the early hours on Monday as it looks like we are threatening the 200 day EMA. That being said, I do think that you have to pay close attention to this area because it is a potential resistance barrier that might be difficult to overcome. This is an area that I think could come into the picture as a major decision just waiting to happen at this point. If we do, then the 1.0850 level gets targeted next. That being said, we also have to look at this through the prism of a market that if we fall, then the 1.07 level could be a target. Ultimately, this is a scenario where traders will ... (full story)