Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact.

The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion as long as the depicted uptrend line remains defended by the bulls.

Through the fundamental point of view, The ECB president Mario Draghi stated that Fundamental data indicates a continuous improvement in the economy. This contributed to the recent bullish jump that took place today.

As long as the bulls are defending the established bottom at 1.3630 and the recent one at 1.3720, the EUR/USD pair remains bullish on the intermediate prospective.

As expected technically, the price zone of 1.3630-1.3720 which is trapped between 50% and 61.8% Fibonacci levels, acted as an important Demand zone that provided a valid BUY entry.

Stop Loss for the bullish scenario is located below 1.3700. Initial target is located at 1.3900 knowing that the bulls have successfully hit 1.3840 so far.