EUR/USD Price Analysis: Bulls are gunning for a test into the 1.08 territories

• A soft US dollar at the start of the week is keeping the euro bulls in charge. 
• EUR/USD bulls are looking for 1.0760 to hold as critical support in order to target the 1.08 territories. 

As per the prior analysis, EUR/USD Price Analysis: Bulls are up against pressures in a key support zone, the price had been testing a key support area on the four-hour charts within what could have been the makings of a fresh daily bullish impulse. The prospects have played out at the start of the week as the US dollar continues to slide. The following illustrates the bullish bias the price moves into a key area on the daily chart as the bulls penetrate critical resistance. 

EUR/USD, before and after analysis, daily and H4 charts

(Before)

It was stated that ''the price broke the horizontal resistance that is now responding as a support zone on the retest. The bulls have committed to the course and a run into prior support and resistance between 1.0761 and 1.0936 could be in order with the 1.08 figure a key target.''

(After)

The price has indeed moved higher and is now up against a potentially firmer layer of resistance. 

Meanwhile, in the following four-hour prior analysis, the W-formation was identified and the price has moved in accordance with this reversion pattern as follows: 

(Before)

(After)

The price moved higher, respecting the W-formation's neckline support and printed another W-formation, again respecting the neckline support before extending into the target area with 1.08 eyed for the sessions ahead. The bulls could be encouraged should 1.0760 hold as the next level of support.