EUR/USD Bulls Are Waiting For Retracement

Technical analysis of Forex market

The EUR/USD is bullish. The price is in retracement, so if the market drops to the POC zone we will possibly see a bounce.

1.2070-80 is the zone where bouce is expected. We can also see historical buyers at the same zone. It’s Friday so profit taking should take place later in the day. Targets for the move if the proce bounces from the POC zone are 1.2118, 1.2164 and 1.2188. Bears will have the chance only if the price drops below 1.2050.