Eseandre Mordi
⬤ EUR/USD's got some serious upward momentum right now, with key support levels doing their job. The pair's been bouncing nicely off that 1.1770 support zone, and the bulls are eyeing 1.1919 as the next major target. What's interesting here is the breakaway gap on the chart – that's usually a pretty solid sign we could see more upside action in the near term.
⬤ That recent dip to 1.1770 turned out to be a gift for buyers. This level's been rock-solid support, lining up perfectly with that earlier breakaway gap. If EUR/USD can punch through the 1.1780 resistance, there's a clear path to 1.1919. The price action's looking healthy too – we're seeing higher lows, which tells you the bulls are still running the show here.
⬤ The chart structure's pretty telling – that breakaway gap's basically screaming "more upside coming." If we do hit that 1.1919 target, it'd signal the Euro's getting stronger against the dollar, probably reflecting some growing confidence in the Eurozone's economic outlook. Market sentiment seems to be leaning bullish on EUR/USD right now.
⬤ Bottom line: as long as EUR/USD stays above 1.1770 and breaks that 1.1780 resistance, we're looking at a solid run toward 1.1919. That'd definitely confirm this bullish trend's got legs. Traders are gonna be watching these levels like hawks over the next few weeks to see which way this pair decides to move.
Eseandre Mordi
