The current run of the EURUSD
is strongly bullish
in a pretty fixed channel just waiting to explode. Due to the current trend the short term outlook is bearish
with possible support around 1.2744 (Fib 50%) or further through to just around Fib 38 which coincides with the psychologically important 1.2700 round number. This would still remain within the current trending channel.
Once this has hit a rebound target of around 1.2900 doesn't look impossible, but with the Fib line 76% sitting on 1.2873 it may be the next realistic zone, this also intersects the current trending channel 61.8 Fib.
Whilst running towards this 1.2900/1.2873 key historic reversals are around 1.28224 and 1.28543 which may provide some resistance/support along the way