The euro currency is set for a pivotal week against the US dollar, following Friday’s strong correction from the 1.1900 area. Lower time frame analysis shows that a bullish inverted head and shoulders pattern is pointing to more gains towards the 1.2000 level. The 1.1750 level is a key technical area that EURUSD bulls need to defend for further upside advancement this week.
The EURUSD pair is only bullish while trading above the 1.1750 level, key resistance is found at the 1.1840 and 1.1900 levels.
The EURUSD pair is only bearish while trading below the 1.1750 level, key support is found at the 1.1710 and 1.1685 levels.
