EURUSD is challenging important long-term resistance area. There is a confluence of resistance levels between 1.11-1.1160 that makes this area a very important area for the future price movement in EURUSD.
EURUSD is trying to make a higher high relative to the October highs. So far we have seen a higher low. A higher high will increase the chances of a weekly trend reversal signal, as price is breaking above the long-term downward sloping trend lines. Key support remains at 1.0980-1.10 area. Upside target in case we see a breakout is at 1.1260-1.13 at first. 1.14 will be expected to follow.
