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- The EUR/USD pair continues to move upwards from the level of 1.1836. Today, the first support level is currently seen at 1.1836, the price is moving in a bullish channel now.
- The price has been set above the strong support at the level of 1.1836, which coincides with the last beaish wave - bottom. This support has been rejected three times confirming the veracity of an uptrend.
- According to the previous events, we expect the EUR/USD pair to trade between 1.1836 and 1.2054.
- The support stands at 1.1901 (minor support), while daily resistance is found at 1.2003. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.1901.
- Moreover, the price spot of 1.1836 remains a significant support zone. Therefore, there is a possibility that the EUR/USD pair will move upside and the structure of scaling does not look corrective.
- In order to indicate the bearish opportunity abovethe level of 1.1836.
- In other words, buy orders are recommended above the spot of 1.1901 with the first target at the level of 1.2003; and continue towards 1.2054.
- However, if the EUR/USD pair fails to break through the resistance level of 1.1800 today, the market will decline further to 1.1685.