EURUSD is trading above 1.09 and is making higher highs and higher lows in intraday time frame. If price breaks above 1.0940 I expect to see EURUSD reach at least 1.0970 if not higher. As long as price is above 1.0905 bulls expect to see more upside.
EURUSD is showing short-term reversal signs. Price has the potential to move towards 1.0970 and higher as long as price holds above 1.09 and if we break above 1.0940. At 1.0970 we also find the 38% Fibonacci retracement of the entire leg down from 1.1110 to 1.0880. So this level is pretty important resistance. If this resistance is broken, we could see a bounce higher towards 1.1020.
