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The euro continues to maintain its gains against the US dollar over several sessions in a row, heading to visit the first goal to be achieved during the previous session at 1.2150, and approaching a few points difference from the second target of 1.2180, to record a high of 1.2175.
Technically, today we find the euro is stable above 1.2100 and in general above the previously breached resistance-into-support 1.2060, and we see the 50-day moving average continues to hold the price from below, coinciding with the positive signals from the RSI.
Therefore, we will maintain our positive expectations, which depends on the ability of the pair to surpass 1.2180 resistance, targeting 1.2220, and then 1.2250, respectively.
on the downside, trading below 1.2060 will negate the bullish scenario and lead the pair to a temporary downward path targeting a re-test of 1.2030 / 1.2020 before attempting to rise again
Note: US jobs data are due today, which may have a significant impact on market movements.
| S1: 1.2105 | R1: 1.2180 |
| S2: 1.2065 | R2: 1.2220 |
| S3: 1.2030 | R3: 1.2255 |
