EUR/USD surges 180 pips, approaches 1.13

Bearish US Dollar sentiment after dovish FOMC meeting minutes continued have strong impact on the EUR/USD currency pair on Thursday and in the early trading on Friday. In the past 36 hours the pair climbed around 180 pips and is now nearing the 23.6% Fibonacci retracement and the 1.13 mark. Therefore, the Euro has already surpassed the Jul high. Outlook turns to be quite positive at the moment, while the key target for bulls seems to be the Jun high at 1.1437, which is followed by the May high at 1.1466. Daily technical indicators are also supporting the bullish scenario.  

The share of bulls decreased from 51% to 49% yesterday, while pending orders in 100-pip range from the spot have a significant advantage among bulls (56%).