The euro currency is looking very bullish against the US dollar again, following Friday’s strong weekly price around the 1.2140 area. The daily time frame shows that EURUSD bulls could be targeting the current yearly trading high, which is located around the 1.2344 level. Traders should be aware that if the 1.2344 level is reached then a massive head and shoulders pattern will be invalidated.
EURUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2060 and 1.2040 levels.
The EURUSD pair is only bullish while trading above the 1.2080 level, key resistance is found at the 1.2240 and 1.2344 levels.
