FX.co ★ Short-term technical view on EURUSD

EURUSD is moving higher as bulls recapture 1.18-1.1830 level. Price has formed a higher low and is showing signs of strength. EURUSD is now expected to move towards 1.19 as long as price holds above 1.18.

Green rectangle -support and higher high

Blue lines -size of expected upward move

EURUSD target remains at 1.19 as price has formed a higher high at 1.17 where price back tested the broken trend line resistance. Support remains key at 1.17. Bulls need to hold the break out above 1.1820. Inability to hold above 1.18-1.1820 will be a sign of weakness. So far bulls remain in control. 1.1760 is short-term support. Bulls need to defend this.