Current price: 1.1780
Key point: 1.1770
Our preferred strategy: Buy positions above 1.1770 with a first target of 1.1840 and then a second target of 1.1930.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.1740 level, targeting the 1.1640 level.
Technical commentary
The EUR/USD pair is holding above the support level of 1.1740 and above the 200-period moving average on the four-hour timeframe, and is expected to continue its upward movement towards the 1.1840 level. If it breaks above this level, it will head towards the 1.1930 level.
