EURO/USD Technical Analysis

The past week has been very bullish for euro/usd and the main reason for that seems to be the hawkish tone of the ECB. Looking from the technical point of view, 1.1480 is a very important area on the daily chart because it is the last lower high before the price went to the lower low 1.1150 area. Looking from a market structure point of view, this pair is still in a downtrend unless it takes out this lower high area so I expect the price to go to the -0.27 first and then continue to the -0.618 Fibonacci extension level. But if price breaks 1.1480 area then we could see a continuation of the bullish market.