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Some Textbook Eur Activity Tonight

End of month protection = standard at this point and lows were unable to get violated on Wednesday. 4th touch of the last trendline (bottom circle on chart below) failed as momentum swung through; possible entry long, if not long from the end of the Asian session.

Top of the channel was just hit in a strong momentum play past the former 1.2433-1.2445 key level.

Most of the time these stick extremely well, as noted in examples across several posts now, though end of month activity could provide some further upside as key areas remain above, particularly circa the 1.2500 handle. Below are links to recent articles discussing this in further detail.

For the day, EUR has already gained a substantial amount (appx. 170 pips) but with 300 pip days not uncommon lately, shouldn't rule anything out, especially towards the end of the month with so many open gaps above. Regardless, the above is well worth noting.

Just some very quick thoughts if you have any other info please feel free to post below.