EUR/USD has extended its upward move from 1.0777, reaching as high as 1.1173.
What’s Next?
- Continued Uptrend:
- As long as the price stays above the rising trend line on the 4-hour chart, the uptrend is likely to continue.
- The next target is the 1.1200 area, with potential for a move toward 1.1250 if momentum holds.
- Support Levels:
- Initial support is now at 1.1100.
- If the price breaks below this level, it could signal a period of consolidation, possibly leading to a pullback towards the rising trend line.
Conclusion
EUR/USD’s uptrend remains strong, with key levels at 1.1200 and 1.1250 on the upside. Traders should watch for a break below 1.1100 as a signal of potential consolidation, while the rising trend line continues to provide crucial support.