EURUSD rose in the intraday levels, which comes following a streak of rises in the short term, while settling above the pivotal support of 1.1248, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 1.1713 to 1.0495), with ongoing positive pressure from the SMA for the last 50 days period, coupled with an influx of positive signals from relative power indicators.

Therefore we reaffirm our positive outlook for the pair, targeting the resistance of 1.1426, which represents the ratio 76.4% of the same retracement levels mentioned earlier, provided the support of 1.1248 holds on.

Trend Bullish