The common currency continued with a four-day winning streak, closing with gains on Friday.
The price action over the week in the EURUSD reversed all the losses from the previous weeks.
As a result, the euro closed at 1.1875 into Friday’s close, which is just a few pips shy of the 1.1900 resistance level.
The current set up looks bullish, suggesting a possible breakout higher. But a close above 1.1900 is required to convince the markets of further upside.
There is a risk of a pullback as the euro nears the 1.1900 price level. The correction could, however, stall near the 1.1800 level to the downside.