Hello, dear speculators.
During the Asian session, buyers managed to pull the price up, and the euro/dollar pair was able to resume its upward movement. The quotes are trading near the high of the 1.1818-1.1919 channel.
For the euro to continue gaining in value, buyers need to drag the price up so that it can break through the 1.1900 resistance level. In this case, the euro will be able to rise above 1.1919. The level of 1.2000 can be seen as a target.
However, let's get back to the main problem that we have been experiencing for more than two months. This is the trading resistance level of 1.1900. The euro/dollar pair tried to advance above this level, but traders resumed short positions.
Today, I expect the price to make another attempt to reach and overcome the level of 1.1919. If buyers fail again, the euro/dollar pair will most likely go deep down. After all, the main trading channel is 1.1700-1.1900.