Overview :

The EUR/USD pair continues to move upwards from the level of 1.1992.

Today, the first support level is currently seen at 1.1992, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.1992, which coincides with the last bearish wave - low price 1.1992 (bottom).

This support has been rejected several times confirming the veracity of an uptrend this week.

According to the previous events, we expect the EUR/USD pair to trade between 1.1992 and 1.2243.

So, the support stands at 1.1992, while daily resistance is found at the levels of 1.2051, 1.2088, 1.2117, 1.2147, 1.2188 and 1.2243.

Therefore, the market is likely to show signs of a bullish trend around the spot of 1.1992.

In other words, buy orders are recommended above the spot of 1.1992 with the first target at the level of 1.2051; and continue towards 1.2088, 1.2117, 1.2147, 1.2188 and 1.2243.

On the other hand, if the EUR/USD pair fails to break through the resistance level of 1.1992 today, the market will decline further to 1.1922.