EURUSD Bullish pattern confirmed
The euro currency is set for another important week against the US dollar after the pair posted major upside gains last week. Technical analysis shows that the daily time frame has formed an extremely large inverted head and shoulders pattern, following the rally towards the 1.1890 area. Lower time frame analysis shows that a break above the 1.1900 level could cause a rally towards the 1.1940 area.
The EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1810 and 1.1790 levels.
The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1900 and 1.1940 levels.