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The EUR/USD currency pair, which expresses the value of the U.S. dollar in terms of the euro, has been rallying recently, breaking above its recent high of not only 1.1423 but also the 1.1495 high which it found earlier this year as global equities crashed.
(Chart created by the author using TradingView. The same applies to all subsequent candlestick charts presented hereafter.)
The 1.1495 level was the level at which the euro peaked as capital was quickly repatriated back to Europe. Interest rates were cut (as I will discuss again, later) and