Overview:
- The resistance of EUR/USD pair has broken and turned to support around the price of 1.3477. Therefore, the pair has already formed strong support at the level of 1.3477. Also it should be noted that the minor support has set at the price of 1.3511 and the same price is representing the double bottom. Moreover, after it could not close below these levels and the pair started signing bullish market at this area. Moreover, the RSI and last strong support (around the double bottom at 1.3511) are still calling for uptrend at this spot. So, the pair will call for upside momentum rather convincing and the structure of the rising does not look corrective, in order to indicate the bullish opportunity above the level of 1.3511 for that it will be a good sign to buy at 1.3511 with the first target of 1.3573 (the weekly pivot point) and it will continue its bullish move towards 1.3608. The ratio of 61.8% Fibonacci retracement levels is coinciding with the 1.3608 price. However, it should also be noted that the price is going to move between 1.3530 and 1.3590.
