Euro Maintains Bullish Path

The single European currency continues to advance against the US dollar within the expected bullish context during the previous analysis, approaching by a few points the second official target published during the last report at a price of 1.2275, recording its highest level at 1.2270.

On the technical side today, and with a closer look at the chart at the 240-minute, we find the stochastic indicator trying to obtain more bullish momentum, accompanied by the clear positive signs on the stochastic.

Consequently, we will maintain our positive outlook, noting that trading above 1.2270 paves the way for the EUR to continue rising towards 1.2300 a second target, and then 1.2335 next stop awaited.

We are continuing to suggest the daily bullish trend, as long as trading remains above the previously breached resistance, which has now turned into a solid support floor around 1.2170, a correction of 23.60%. It should also be noted that the breach of the aforementioned level is capable of thwarting the daily bullish trend, and we may witness negative moves for the pair with an initial target of 1.2110.

S1: 1.2220	R1: 1.2270
S2: 1.2170	R2: 1.2300
S3: 1.2110	R3: 1.2335