The euro is turning increasingly bullish against the US dollar, following a strong upside recovery above the 1.1060 resistance level. The EURUSD pair is increasingly bullish while trading above the 1.1060 level and now faces strong resistance from the 1.1120 level. If the EURUSD continues to hold above the 1.1060 level this week it should be considered a strong medium-term buying signal.
The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1120 and 1.1170 levels.
The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1035 and 1.1000 levels.
