The price of EURUSD was quite calm lately. Even FED and ECB meetings did not cause any big moves. For the last 6 weeks the pair is moving in 1.1120-1.1305 range. In the last 3 weeks it narrowed down to 1.1120-1.1250.
So far there was breakthrough on EURUSD but support at 1.1150 was tested. If it will be broken, there should be another test of strong support at 1.1120. It is supported by bullish trend line which can be set by lows beginning in December 2015.
Currently the main scenario for EURUSD is bullish move after successful rebound from strong support at 1.1120. There are no signs of bears taking over the control. If there will be a rebound from this area, next targets are located at 1.1250, 1.1305, 1.1360. This last level is a high from August and only its breaking will be the key to end current side movement.
H4 chart:
D1 chart:
