is trading around the 1.1130 level against the US dollar
, after a fairly solid former weekly price close back above the 1.1100 support level
. Traders may need more technical confirmation that a meaningful bottom is in place before turning fully short-term bullish
on the EURUSD
. Overall, EURUSD
traders should be on guard for a bullish
double-bottom pattern forming this week.
pair is only bearish
while trading below the 1.1100 level, key support is found at the 1.1040 and 1.1020 levels.
If the EURUSD
pair trades above the 1.1100 level, bulls may test towards the 1.1140 and 1.1185 levels.