EUR/USD has been trading sideways at the price of 1.1050 but there is still upward pressure from the background, which is sign for potential new upward wave. There is potential for re-test of 1.1083.
Blue horizontal lines – Resistance level and upward objective
Yellow rectangle – Short-term support
Purple rising line – Expected path
I found rejection of the middle Bollinger band (20SMA) and strong and potential new wave up. Key support is at 1.1025 and resistance at $1.1083. Bears need to be very cautious as there is still upward pressure in the background. As long as the EUR is holding above 1.1018, there is a chance for more upside.
