The Euro-Dollar is popular with traders because it represents the two largest and most influential economies in the world
On May 18, EUR/USD remained above the 50-day moving average showing that bulls were in charge. Today, the market has rallied to a near three-month high at 1.1383 however, the price reversed back to the current trading zone 1.1205 – 1.1370.
Anything near to the high end of the aforementioned trading zone may encourage bulls to push towards 1.1508 and a further close above that level means extending the rally towards 1.1639.
However, a close below the high end of the zone reflects bull’s hesitation and may reverse the pair’s direction towards the low and of the zone. A further close below that level could send EURUSD even lower towards 1.1097.
So looking at today's Euro/ USD chart, We can see that sooner or later the momentum of the chart is going to be bearish when the price hit 1.15 and resistance is shown, so anywhere close to 1.15 would be a good time to sell, The price will drop to 1.100 in the following week and that would be a good time to go bullish again.
Thank you for this price analysis. It is useful for trading forecast for the concerned pair of currencies. Thanks for providing it.