Technical Analysis of EUR/USD

The EUR/USD pair has started an upward trend on the hourly timeframe, following a bullish reaction from a DFVG zone on the daily timeframe around the 1.1770 level. Price then formed an IFVG zone near the 1.1779 level. The pair is currently trading around 1.1792, and further upside continuation is expected during today’s session.

Major Economic News:
There are no major economic news releases scheduled today, therefore price action is expected to remain relatively calm. In addition, European banks remain closed due to holidays.

Liquidity Levels:
Price is expected to rise and target the 1.1807 level, followed by the 1.1818 level.

Scenario Invalidation:
The bullish scenario will be invalidated if price revisits the 1.17730 level.