EUR/USD is trading in the green at the 1.1977 level and is targeting the 1.2 psychological level. The price has taken out some critical resistance levels so further growth is expected.
USDX's drop under 91.74 static support has pushed EUR/USD higher. The bullish sentiment is evident, I don't believe that the pair will change its direction soon. Some temporary retreats could help us to go long as well.
Some poor US data during this week could boost the pair. The ISM Manufacturing PMI, Fed Chair Powell Testifies, Unemployment Rate, and the Non-Farm Payrolls could shake the currency market and could bring high action.
EUR/USD Bulls In Control!
EUR/USD has finally managed to close above the median line (ml) of the ascending pitchfork after several false breakouts. I've told you in my analysis that the price could jump above this dynamic obstacle if it stays above 1.19.
The pair has escaped from a range, so more gains towards 1.22 are favored. The immediate target, obstacle, is seen at the 1.2. The inside line (sl) of the ascending pitchfork could represent an important target as well. The outlook will remain bullish as long as the price stays above the median line (ml).
- EUR/USD Trading Tips
The bullish closure above the median line (ml) offered a buying opportunity with a target at the sliding line (sl), around 1.2. Closing and stabilizing above 1.2 could bring another long signal with a target at 1.22.
