Spikes above topside trend line and runs higherIs it month end? Maybe. I don’t see a news headline but the EURUSD has spiked higher over the last 10-15 minutes.
Looking at the 5-minute chart, the pair had been in a 29 pip trading range with the topside and bottomside trend lines converging. The price moved above the topside trend line and it ignited a buying spree, but putting things into perspective, the move above the trend line is about 14 pips. The move from the last low is about 31 pips. It happens.