EURUSD upside risks grow
The euro currency is appearing increasingly bullish against the US dollar, following a powerful recovery from the 1.1200 support level yesterday. If price moves above the 1.1288 resistance level, then a bearish head and shoulders pattern will be invalidated across the lower time frame. According to the size of the potential invalidation, the EURUSD pair could rally back towards the 1.1400 level.
The EURUSD pair is only bearish while trading below the 1.1230 level, key support is found at the 1.1190 and 1.1150 levels.
The EURUSD pair is only bullish while trading above the 1.1230 level, key resistance is found at the 1.1288 and 1.1350 levels