This time are we going to see a move above 1.10 on the EUR/USD?

Right at the start of 2024 the EUR/USD tried and failed to get back above 1.10, after it had peaked at 1.1054 on January 1. The formation of a double top on the daily charts at 1.0998 and 1.0996 after that was reported on here way back then and it has defined the top of the shop since. The next highest point was at 1.0948 and it was reached on July 17. The move back above 1.09 on Friday saw the EUR/USD reach 1.0927 and later close out the week at 1.0911. The Euro opened in Asia yesterday evening at 1.0909 and lifted above the highs seen on Friday in Asian trading, reaching 1.0940. Just beyond 1.10 itself resides a very important longer-term technical level. That is right now at 1.1072 and it is the 200 week moving average. The Euro has not traded above that since July 2023 and even back then it could not sustain a brief move above it. However, all the latest economic news from the US and slide in US yields would suggest the EUR/USD could have its best chance of the year so far, to make a move above 1.1000. The problem for the Euro right now though, is the flight to the dollar, Yen and CHF, as the geopolitical situation deteriorates further. The EUR/USD its currently trading at 1.0916