In our previous analysis the pair was trading @ 1.19130 We did note that if the pair breaks above resistance @ 1.19300 it might attempt to test 1.20, and this is what happened
Currently trading @ 1.19750 Bearish Harmonic has extended to resistance @ 1.20 signaling possible reversal But as long as the DXY is bearish this might just be a retracement and not a reversal. According to our chart DXY might still fall to next support @ 91.330 so EUR might be still bullish The pair is still trading within its ascending channel. If the pair breaks above 1.20 then it might attempt to hit next resistance @ 1.20800-1.20500 But if it fails & DXY becomes bullish we expect it to fall back to 1.19300 Sell entries will not be advised at this moment