The euro currency has started the new trading week under pressure against the US dollar following last week’s breakout under the 1.2200 level. EURUSD bears now need to move the price below the 1.2060 support level to trigger a massive head and shoulders pattern. Failure to activate the bearish price pattern could see the BTCUSD pair rebounding towards the 1.2125.
The EURUSD pair is only bearish while trading below the 1.2110 level, key support is found at the 1.2060 and 1.2000 levels.
The EURUSD pair is only bullish while trading above the 1.2110 level, key resistance is found at the 1.2125 and 1.2150 levels.
