EUR has been trading downwards in past 24hours after the potential end of the downward correction ABC in the background. There is potential for re-test of the 1.1086.
Blue horizontal lines – Important resistance levels and upward objectives
Yellow rectangle – major short-term support area
Green rising line – Expected path
I still expect potential new wave up and re-test of the 1.1086 due to potential end of the downward correction ABC. Additionally, I found that momentum is picking up on the MACD oscillator , which is another good indication for upward price. Key support is at 1.1017 and resistance at 1.1086 and 1.1115. Bears need to be very cautious as there is strong aggressive buying and potential end of the downward correction ABC. As long as the EUR is holding above 1.1015 there is a chance for potential test of 1.1086. Don't forget that short-term and long-term trends are bullish. Watch for buying opportunities on the dips on lower frames 5/15 for better timing.
