EURUSD BULLISH PRICE PATTERN IN PLAY
The euro remains at elevated trading levels against the greenback, with price-action earlier finding strong technical support from the former 2018 trading high around the 1.2530 level. Traders are increasingly watching the bullish inverse head and shoulder pattern on the EURUSD, which is currently in play across a series of important time frames. Moving into the final U.S trading session of the week, the release of the U.S Michigan Consumer Confidence index will likely be the catalyst for the next intraday move in the U.S dollar.
The EURUSD pair remains strongly bullish while trading above the 1.2500 level, further gains towards the 1.2610 and 1.2655 levels seems possible.
Should EURUSD pair move below the 1.2500 level, we may see a deeper correction back towards the key 1.2470 support level.