The EUR/USD chart is currently displaying bullish momentum, primarily influenced by the price’s position above a major ascending trend line. This position suggests that there’s a strong possibility for further bullish momentum in the future. Within this context, there’s potential for the price to experience a bullish bounce from the first support at 1.0783 and then make its way towards the first resistance at 1.0933. The first support at 1.0783 is particularly noteworthy because it’s an overlap support, and it aligns with both the 78.60% and 100% Fibonacci Projections, highlighting a Fibonacci confluence.