The Euro has been frozen in a narrow range for the last half-day, as if gathering energy for a move.  It is hovering just below a cluster of external highs on the hourly chart, meaning that the already-bullish tone of this market could intensify quickly.  A print above the highest of these, at 1.3840, would not only be very bullish but would cancel two daily patterns with targets at 1.3398 and 1.3344.  Until and unless that happens, committed Euro bears have something to shoot for. ______ UPDATE (01:27 a.m. EST, Feb 18): Committed Euro bears carried the day. The beleaguered currency failed to take out any of its key hourly highs and instead plunged to a level near its low for the big move that began above $1.50.  The targets below $1.34 were not reached but remain in play.