Strong rebound returns to daily cloud and neutralizes bearish threats

The Euro accelerates strongly up in early US trading on Friday, boosted by lower dollar and after markets digested dovish signals from ECB.
Fresh advance fully reversed Thursday’s fall and returned back to daily cloud, sidelining downside risk, signaled by Thursday’s long red daily candle and close below key support at 1.1350.
Rebound cracked the lower boundary of strong 1.1381/1.1418 resistance zone (10/20/30 SMA’s / Fibo 38.2% of 1.1569/1.1289 descend / daily cloud top), but close above these barriers is needed to confirm reversal.
Bullish engulfing pattern is forming on daily chart and would add to positive signals for the next week, along with daily indicators that turned north.
Broken daily cloud base (1.1362) needs to hold to keep fresh bullish stance intact.

Res: 1.1400; 1.1418; 1.1429; 1.1462
Sup: 1.1377; 1.1362; 1.1336; 1.1300