Bulls tighten grip and look for renewed attack at 1.2197 pivot

The Euro maintains bullish tone on Monday and hits one-week high, in extension of Friday’s 0.55% advance.
Bulls eye pivotal barriers at 1.2181/97 (May 11 upside rejection / Fibo 76.4% of 1.2349/1.1704) with close above the latter to signal bullish continuation and expose next target at 1.2242 (Feb 25 spike high).
Daily studies are bullish and support the action, but last week’s close in Doji (although with long tail) strongly overbought weekly stochastic and fading bullish momentum continue to warn. Near-term action is expected to remain biased higher while above important 1.21 support zone (broken Fibo 61.8% / 10DMA), but repeated failure to clear 1.2197 pivot would signal extended sideways mode but with increased downside risk.
Loss of 1.2100 handle and trendline support (1.2074) would weaken near-term structure and add to signals of stall.

Res: 1.2181; 1.2197; 1.2242; 1.2300
Sup: 1.2126; 1.2100; 1.2074; 1.2051