Technical outlook:
EUR/USD managed to print 1.1214 before pulling back, and it has remained shy of just a few pips from 1.1250 resistance. It remains possible for another push through 1.1250 before giving in to bears and produce a meaningful correction. The euro could then drop until the fibonacci 0.618 retracement around 1.0930/40. This is also converging with backside of resistance trend line, which should now act as support. If we compress the chart view and go back in time, a potential inverted head and shoulder could also be in the making. The expected drop after 1.1250 highs would be the right shoulder and a great point for a potential buy. The overall structure looks constructive for bulls until prices stay above the 1.0778 low print on February 20,2020. It would be considered safe to enter buying at lower levels rather than trade a counter trend. The upside target potential remains until 1.1500, 1.1800 and even further.
Trading plan:
Remain flat for now and look to buy ! 1.0930/40 stop @ 1.0778, target is open.
Good luck!