EUR/USD is pressuring the extended range resistance, a valid breakout will bring a great buying opportunity. The pair is trading at 1.1914, another higher high will validate further growth in the upcoming period, way above the 1.20 level.

The pair was into a consolidation phase, it has tried to accumulate more bullish energy before jumping higher. The USDX's sell-off helps EUR/USD to reach fresh new highs.

EUR/USD is trading above R1 (1.1898) level and above the 1.1909 high, a consolidation right above these upside obstacles will suggest buying with the first target at the 1.2000 psychological level.

Actually, an upside valid breakout from this range will announce a potential growth at least till the 1.2125 level.

• EUR/USD Trading Tips

Buy a valid breakout from this pattern, above 1.1909 - 1.1916 area. Another higher high could signal an upside journey towards 1.2125 level.

EUR/USD strongly bullish, only a reversal pattern here around 1.1909 - 1.1916 area, or a false breakout with great separation could announce another minor decline towards 1.18 level.