The Euro Continues to Advance

The euro continues to advance against the US dollar within the expected bullish path mentioned in the previous analysis within a gradual rise towards the upside approaching the required target of 1.2060, reaching a high of 1.2050.

Technically speaking today, we find that the current transactions setteled above the psychological barrier of 1.2000 in addition to the price consolidation above the previously breached resistance level and converted to the support level of 1.1975, a 50.0% correction, and we find the 50-day moving average continues holding the price from below and meets around 1.1900 and adds more strength.

From here, we will maintain our positive expectations targeting 1.2060 a correction of 38.20% as a first target, bearing in mind that confirming the breach of the aforementioned level is a catalyst that increases the probability of extending the bullish bias to visit 1.2120.

The suggested bullish scenario requires stability above 1.1950, knowing that trading below 1.1950 delays the bullish chances, but does not cancel it, and we may witness a bearish bias aimed at re-testing 1.1900 and may extend towards 1.1865.

S1: 1.1970	R1: 1.2075
S2: 1.1900	R2: 1.2115
S3: 1.1865	R3: 1.2180