EUR/USD ended last week's trading with a positive weekly candlestick. Moreover, it has confirmed its bullish direction as the pair managed to trade above 1.3050 which comes to meet a downtrend line that extends from 1.3700.
Yesterday, we had a strong bullish daily candlestick that broke out off neutral zone extending from 1.2880 to 1.3050, this will help to resolve the case of accidental confusion experienced by the pair up and down since visiting support zone around 1.2800.
Intraday direction remains bullish as long as the pair remains above 1.3050 while Short-term direction remains bullish with fixation above 1.2950 with targets at 1.3120 then 1.3190.
Breakdown of 1.2880 brings back 1.2800 then 1.2750-1.2700 into consideration again.
Fundamentally, unemployment index showed great improvement in May according to data released from Spain today.
