Image Source: The EURUSD pair has maintained its bullish momentum, pushing higher from its recent low of 1.0761 to touch an impressive 1.0914. This continued upward movement has sparked excitement among forex traders, with many now speculating on the potential for further gains in the coming days.
As the pair rides this wave of optimism, market participants are already setting their sights on the next significant target around 1.0930. However, the bullish sentiment doesn’t stop there. Should the pair successfully breach the 1.0930 level, traders are already eyeing the psychologically important 1.1000 area as a potential next stop on this upward journey.While the overall trend remains bullish, prudent traders are also keeping a close watch on key support levels. The immediate support to watch now sits at 1.0865. This level could prove crucial in maintaining the current upward trajectory. A breakdown below 1.0865 might signal a short-term pullback, potentially bringing the price back to test the next support level at 1.0831.It’s worth noting that a breach below 1.0831 could trigger a more significant retracement. In such a scenario, traders would be watching for a possible revisit of the 1.0760 support level, which served as the springboard for the current rally.As the EURUSD pair continues to climb, market participants remain alert to both bullish and bearish scenarios. The coming sessions will be critical in determining whether the pair can maintain its upward momentum and push towards the 1.0930 and 1.1000 targets, or if we’ll see a pullback to test the established support levels. Traders are advised to stay vigilant and adjust their strategies accordingly as the pair navigates these key price points.More By This Author:EURUSD Tests Key Resistance: All Eyes On 1.0870EURUSD Breaks Out: Bullish Momentum Takes HoldUSDJPY Continues Its Upward March: What’s Next For The Yen?
EURUSD Rally Continues: Eyes Set On 1.0930 And Beyond
