Pivot : 1.1328.
The EUR/USD pair was trading around the area of 1.1328. Today, the level of 1.1328 represents a weekly pivot point in the H1 time frame.
It should be noted that a daily pivot point has already set at the level of 1.1328. Equally important, the EUR/USD pair is still moving around the key level at 1.1328, which represents a daily pivot at the same chart.
The pair has already formed minor resistance at 1.1386 and the strong resistance is seen at the level of 1.1440 because it represents the weekly resistance 3.
Hence, major resistance is seen at 1.4607, while immediate support is found at 1.4478.
The EUR/USD pair continued to move upwards from the level of 1.1292. The pair rose from the level of 1.1292 (this level of 1.1292 coincides with the double bottom) to the top around 1.1354.
In consequence, the EUR/USD pair broke resistance, which turned strong support at the level of 1.1292 . The level of 1.1292 is expected to act as major support today.
From this point, we expect the EUR/USD pair to continue moving in the bullish trend from the support level of 1.1328 towards the target level of 1.1386.
If the pair succeeds in passing through the level of 1.1386, the market will indicate the bullish opportunity above the level of 1.1386 in order to reach the second target at 1.1440.
Notwithstanding, if a breakout happens at the support level of 1.1292, then this scenario may be invalidated.
