The EURUSD failed to break below 1.2150 key support area this week and whipsawed to the upside, topped at 1.2610 and closed at 1.2549. Beside the breakout of the falling wedge formation two weeks ago, on daily chart below we have another bullish reversal pattern, an ascending triangle, which is also confirmed as price already break above the triangle. So technically the Euro has a good chance to continue the recovery next week testing 1.2900 – 1.3120 region. Immediate support at 1.2465 area. Break below that area could diminish the upside bias but only a break below 1.2150 and violation to the downside of the ascending triangle could cancel the bullish outlook in longer term point of view. Have a great weekend and see you guys next week.
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