The euro currency is appearing very bullish against the US dollar, following Friday’s huge technical breakout above the 1.2080 resistance barrier. The daily time frame shows that EURUSD bulls could be targeting the 1.2400 level after igniting a large descending broadening wedge pattern. EURUSD bulls may buy into price pullbacks towards either the 1.2130 or 1.2110 areas.
EURUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2130 and 1.2110 levels.
The EURUSD pair is only bullish while trading above the 1.2080 level, key resistance is found at the 1.2240 and 1.2340 levels.
