EUR/USD on the Rise: What to Expect Next

The EUR/USD currency pair has made a significant comeback, bouncing from 1.0777 to 1.0926. This move broke through both the falling price channel on the 4-hour chart and the key resistance level at 1.0870. This suggests that the recent downtrend, which started from 1.0948, has now completed at 1.0777.

Current Trend: Upward

With this bounce, EUR/USD has entered an uptrend starting from 1.0777. We can expect the pair to continue its upward movement in the coming days, with the next target being the previous high of 1.0948. If it surpasses this level, the next goal would be 1.1000.

Support Levels to Watch

Initial support is currently at 1.0900. If the price falls below this level, it may indicate a period of consolidation for the uptrend from 1.0777. In this case, we could see the pair finding support around 1.0890 and then the 1.0865 area.

Summary

Current Trend: Uptrend from 1.0777
Next Targets: 1.0948, then 1.1000
Initial Support: 1.0900
Further Support Levels: 1.0890, 1.0865

Keep an eye on these levels as the EUR/USD pair continues to evolve in the forex market.

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