EURUSD is showing strong bullish momentum, currently trading around 1.087 and bouncing as predicted. The pair has respected key support levels, confirming the continuation of the **uptrend**. With increasing buying pressure, we anticipate further upside movement toward the main target of 1.1200. The **bullish structure remains intact**, and if this momentum sustains, eurusd could soon hit the projected target.
From a technical perspective, the pair has formed a solid base near recent support, aligning with key **fibonacci retracement levels** and previous demand zones. A break above **1.0900 psychological resistance** will add further confirmation to the bullish bias, leading to a potential rally toward **1.1000 and beyond**. Traders should look for volume confirmation and price action signals for additional entry opportunities.
On the fundamental side, the **us dollar is facing slight weakness**, primarily due to shifting Federal Reserve expectations and lower bond yields. Meanwhile, **eurozone economic data** has shown resilience, supporting the euro’s strength. If risk sentiment remains positive and economic conditions continue improving, eurusd could maintain its bullish trajectory and test higher resistance levels.
Overall, eurusd is still in a bullish phase, and with strong buying momentum, the price is on track to reach the **1.1200 target**. Traders should monitor key levels and market sentiment for potential breakout confirmations.
From a technical perspective, the pair has formed a solid base near recent support, aligning with key **fibonacci retracement levels** and previous demand zones. A break above **1.0900 psychological resistance** will add further confirmation to the bullish bias, leading to a potential rally toward **1.1000 and beyond**. Traders should look for volume confirmation and price action signals for additional entry opportunities.
On the fundamental side, the **us dollar is facing slight weakness**, primarily due to shifting Federal Reserve expectations and lower bond yields. Meanwhile, **eurozone economic data** has shown resilience, supporting the euro’s strength. If risk sentiment remains positive and economic conditions continue improving, eurusd could maintain its bullish trajectory and test higher resistance levels.
Overall, eurusd is still in a bullish phase, and with strong buying momentum, the price is on track to reach the **1.1200 target**. Traders should monitor key levels and market sentiment for potential breakout confirmations.
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Join our Forex Community Telegram group and connect with thousands of traders.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.