EurUsd- Will bulls finally conquer 1.09 zone?
The EUR/USD, like the entire forex market, has been notably quiet in recent days, with prices fluctuating within a very narrow range. However, it seems that bullish momentum is building among EUR traders in preparation for a breakthrough.
As outlined in a previous analysis, the drop to 1.07 back in mid-February resembles the bottom at 1.0450 and potentially signals a higher low in the overall long-term trend. Additionally, the end of last month also marked a higher low, and confirmation will require a break above 1.09.
In such a scenario, the EUR/USD will transition into a bullish phase and could rise to test the 1.11 zone in the medium term.
As outlined in a previous analysis, the drop to 1.07 back in mid-February resembles the bottom at 1.0450 and potentially signals a higher low in the overall long-term trend. Additionally, the end of last month also marked a higher low, and confirmation will require a break above 1.09.
In such a scenario, the EUR/USD will transition into a bullish phase and could rise to test the 1.11 zone in the medium term.
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Let s see if it holds