EUR/USD's Bullish Sentiment

Technical Reports

The pair is holding under the minor resistance of 1.2363. Trading character is neutral. Breach of 1.2363 should prolong the recoil from 1.2154 for repeat test of 1.2555 maximum. Sustained breach in that zone will imply bullish sentiment. Following pivot points include: (S1) 1.2281; (P) 1.2323 (R1) 1.2376.

Breach of 1.2154 will indicate rejection from key fibonacci of 1.2516 and trend reversal. Projection should become bearish to 38.2% retracement of 1.0339 to 1.2555 at 1.1708.

Lift from the medium term bottom of 1.0339 has a corrective nature. Firm breach of 1.2516 will suggest bullishness and align 38.2% retracement of 1.6039 to 1.0339 at 1.3862. Rejection from 1.2516 will boost long term bearish prognosis and suggest repeat test of 1.0039 level. Strong breach of 1.2516 will suggest bullishness and align 61.8% retracement of 1.6039 to 1.0339 at 1.3862.