The EURUSD broke 3 out of the four levels that we marked out last week. Liquidating the overzealous shorts placing high leverage bets at the tail end of the downside correction. One last level is left standing.
BULL CASE If the pair holds 1.18, we expect EURUSD to retest the 1.20 levels.
BEAR CASE We think it needs more build up to retest 1.15 on the downside but if it's ready, the price levels of 1.16 or 1.17 could be visited in the short term.