Currently, the EUR/USD currency pair is exhibiting a bullish trend, which has been evident for some time. However, it recently encountered a pullback around the 50% Fibonacci retracement level. This is an important level to watch because it is a common retracement level that traders use to gauge market movements.
Despite the pullback, we remain optimistic about the prospects of this currency pair. We are still looking for a new long setup that aligns with the overall direction of the main trend. This is because we believe that the bullish trend is likely to continue, based on our analysis of market conditions.