FX.co ★ Quee | EUR/USD

TECHNICAL ANALYSIS OF EUR USD PAIR. The EURUSD's climb to around 1.1965 shows that investors are still strongly committed to a significant upward trend against the US dollar. For several weeks, prices have consistently reached higher points, signaling a continuous upward movement despite some occasional dips. The current upward push during Asian trading suggests that buyers remain in charge and that the market respects important support levels established during previous periods of stability. As long as these support levels hold, the currency is likely to continue rising rather than changing direction.The strong increase past 1.1800 marked a clear break from a long period of stable prices. This former stable price is now a crucial mid-term support area, forming the foundation for the current positive outlook. The minor drops to 1.1850-1.1880 have been small, indicating strong buying interest when prices fall, and that the market is moving in a clear direction rather than just fluctuating.The fact that sellers aren't pushing prices lower in certain areas shows they don't think they can make the correction go further.The 1.1965 level is a strong barrier right away because of recent high points and quick exhaustion. This level has stopped upward movement lately, making it a key obstacle for buyers to keep going. If the price consistently breaks above this area and stays there by the end of the day, it would confirm the trend will continue and likely open the path to the significant 1.2000 level. The 1.2000 mark is very important psychologically and has historically seen a lot of trading, meaning people might start selling to take profits there even if it's broken.If the price can get past 1.2000, the next potential upward targets would likely be 1.2080 and 1.2150, which were significant trading areas in past market cycles. These areas would act as medium-term resistance zones where the upward trend might slow down or level off. However, as long as the market keeps setting higher low points, it would still be in a strong upward trend, not a reversal.

Looking at the downsides, initial support is under 1.1900, a key number that has acted as a short-term turning point recently. A single drop to this level wouldn't seriously threaten the overall pattern, provided buyers maintain it by the end of the day. The 1.1850 area is even more vital support because it matches previous breakout points and the starting level of the most recent strong price increase. If the price drops below 1.1850 daily, it would signal a more significant correction, shifting focus to the 1.1800 area.The 1.1800 level is extremely important for the trend. It was previously the top of a trading range and is now a solid base. A sharp fall below this would break the pattern of rising low points and suggest the upward movement is losing strength. In that case, the price would move towards 1.1700, where there's stronger long-term support and past buying interest. However, as long as 1.1800 remains unbroken, the overall positive outlook stays valid.The EUR/USD exchange rate remains elevated, with the price comfortably above important support levels and close to immediate resistance. The market appears to be steady around 1.2000, which often happens before it either breaks out to continue its trend or pulls back slightly. If the price clearly goes above 1.1965, it would likely mean it will continue to rise to 1.2000 and beyond. Conversely, if it pulls back but stays above 1.1850, this would likely be viewed as a chance for further growth, rather than a sign of a market decline.