EURUSD Strong recovery
The euro currency has staged a strong recovery against the US dollar after sellers failed to hold price below the pivotal 1.1790 level. A daily and weekly price close above the 1.1840 level could see the EURUSD pair pushing back towards the 1.1900 level. Technical analysis across various time frames shows that the EURUSD pair is starting to form a large inverted head and shoulders pattern.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1840 and 1.1900 levels.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1770 and 1.1740 levels.