EUR/USD bullish reversal suggests developing
EUR/USD is drifting lower at the beginning of the week, yet there are encouraging signs that the bounce we have been looking for is coming to fruition.
The creation of higher highs and higher lows is gradually taking us away from the 76.4% retracement, pointing towards another leg higher for this pair. The ability to remain above $1.1139 is key to providing a clear cut resurgence for the pair. As such, while a bullish view remains in play as long as we remain above $1.1109, the $1.1139 level is the crucial level of support, which needs to hold today for the bullish view to stay strong.