The bullish trend is still dominating the euro’s movements against the US dollar within the expected bullish path, touching the third target located at 1.2130, posting high at 1.2127.
Technically speaking, and with a closer look at the 4-hour chart, we find that the simple moving averages continue to support the general bullish curve for prices, accompanied by the pair continuing to obtain positive signals from the RSI.
From here, and with the intraday trading remaining above 1.2060, it encourages us to maintain our positive expectations, with targeting 1.2150, and its breach confirms the continuation of the rise towards 1.2180.
Trading below 1.2060 puts the price under temporary negative pressure, aiming to re-test 1.2010 and may extend to 1.1965 before attempting to rise again.
S1: 1.2060 | R1: 1.2150 |
S2: 1.2010 | R2: 1.2180 |
S3: 1.1965 | R3: 1.2230 |