Initial support is to be found around 1.3835 and if these levels attract plenty of buyers then we can start to believe more strongly in the emerging up-trend. There is stronger support now around 1.3785 and that is my optimal entry level.

On the crosses, both EUR/GBP and EUR/JPY are also building bullish profiles.

This will be a fairly quiet week on the economic data front so geo-political risk sentiment and positional adjustments are likely to be the main drivers.