EURUSD bulls have managed to recapture 1.18 and it seems that the end of the week will find us above the 1.18 level. It is important for bulls to clear away and above 1.18-1.1820. If this is the case, EURUSD will be expected to rise towards 1.19-1.2050.
Green rectangle - support
Blue line -resistance trend line
EURUSD is breaking above the resistance area and the trend line resistance. Holding above this area will be key for the trend of the next couple of weeks. On a weekly basis if bulls manage to recapture 1.1835 then they will have made the first step of confirming the end of the pull back and the resumption of the up trend with targets around 1.21-1.22.
