EUR/USD Rally Continues – 1.18000 in SightHi Everyone,
As outlined in our analysis last week, we anticipated a continued move higher toward the 1.16564 and 1.18325 levels, provided price held above 1.14483.
Price respected this level, and EUR/USD extended its rally, reaching our first key target at 1.16564 and pushing above 1.17400 — marking the highest level since February 2022.
A successful bounce from above 1.16680 or slightly lower at 1.15998 would offer near-term support for a potential retest of the 1.17400 zone. A confirmed break above this resistance could pave the way for a move toward 1.18000, where we anticipate encountering dynamic resistance.
We will provide further updates on the projected path for EUR/USD should price reach this level.
The longer-term outlook remains bullish, with expectations for the rally to extend toward the 1.2000 level, provided the price holds above the key support at 1.10649.
We will continue to update you throughout the week with how we’re managing our active ideas and positions. Thanks again for all the likes/boosts, comments and follows — we appreciate the support!
All the best for a good end to the week. Trade safe.
BluetonaFX
