The EUR/USD has been under strong downside pressures, since the 26th of August, 2015, that forced the pair to drop from as high as 1.1561 to as low as 1.1203.
The latest bullish momentum could signal a probable retracement and a shift of the pair to the upside, provided that the price breaks above 1.1297. In such as a scenario, the pair could appreciate to 1.1423 and 1.1460 respectively.
Alternatively, in the event where the bearish channel resumes, the pair could retrace at 1.1286 and thereafter decelerate to 1.1132.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.