The euro currency is once again on the rise against the US dollar, as traders continue to aggressively buy into price dips below the 1.2200 level. A bullish inverted head and shoulders pattern is close to forming across the lower time frame with a 90 point upside projection. Gains above the 1.2245 resistance level is currently required to activate the mentioned bullish price pattern.
EURUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2160 and 1.2130 levels.
The EURUSD pair is only bullish while trading above the 1.2200 level, key resistance is found at the 1.2245 and 1.2330 levels.
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