The euro continues to advance against the U.S dollar during the European trading session, hitting 1.1850, showing no signs of an imminent price-correction, following yesterday’s strong upside rally. Price-action on the EURUSD pair currently trades at 1.1845, which is just below the former monthly high traders set at 1.1862. With markets in the United States being away for Thanksgiving holidays, traders now the look to the release of the Meeting Minutes from the European Central Bank’s last policy meeting, as the main risk event on Thursday.
The EURUSD pair remains strongly bullish while trading above the 1.1807 technical level. Further upside towards the 1.1860 and 1.1910 levels appears increasingly likely.
Any decline below the 1.1807 level should spark an immediate sell-off towards the 1.1755 support region.
