EURUSD Rise

EURUSD is in a downtrend and we saw a drop on price in the last week.

But today, after dropping to 1.1760 which is a strong support area, price has made a bullish reversal hammer in 4H time frame and is being pushed to the upside.

On the other hand, in the higher time frames like Daily and Monthly, we can still see bearish candles with lower lows and currently price is below the weekly low (1.18) which is a resistance level.

Although there are more bearish signals, I have a bullish bias for EURUSD at this moment and if the current 4H candle will be closed above the high of the last 4H candle and price breaks 1.18 to the upside, I expect a rise to 1.1850 and in the case of an upside breakout on this level, the next target would be 1.19.