EURUSD’s rise from 1.1876 extends to as high as 1.2412 level. Key support is now at 1.2241, as long as this level holds, further rise is still possible and target would be at 1.2450-1.4500 area. However, a breakdown below 1.2241 will suggest that a cycle top is being formed on 4-hour chart, and the rise from 1.1876 is complete. width=400