The euro currency is vulnerable to further losses against the US dollar, following last weeks heavy rejection from the 1.1990 resistance area. The Parabolic SAR Indicator show that the short-term trend surrounding the EURUSD pair remains bearish while trading below the 1.1960 level. If EURUSD bulls can break above the 1.1960 to 1.1990 resistance zone this week then a rally back towards the 1.2100 level is possible.
The EURUSD pair is only bullish while trading above the 1.1960 level, key resistance is found at the 1.1990 and 1.2100 levels.
EURUSD pair is only bearish while trading below the 1.1960 level, key support is found at the 1.1870 and 1.1840 levels.