EUR/USD Price Analysis: Bulls move in and eye 1.1750/60 targets

• EUR/USD bears are seeking a downside daily extension deeper into monthly support. 
• EUR/USD bulls are stepping in which opens the risk of a meanwhile bullish correction. 

EUR/USD is on the verge of a bullish correction within what is otherwise a longer-term, bearish environment, The following is an analysis from a monthly and daily point of view. 

EUR/USD, monthly chart

From a longer-term perspective, the price is pressured within monthly low territories and while a downside move is probable, there are prospects for a meanwhile reversion from the daily perspective.

EUR/USD, daily chart 

The price is consolidated at familiar support and is most probably on the way to a 50% mean reversion within a bullish correction to 1.1760. 

 Zooming in on the same chart, there is some meanwhile resistance that correlates with the 38.2% reversion level first that comes in near 1.1750.