Technical outlook:
EUR/USD has resumed its rally towards 1.1500 levels after printing lows at 1.0870 levels yesterday. The single currency pair is seen to be trading at around 1.0950/52 levels at this point in writing and should be looking to push above 1.1020 and 1.1150 resistance soon. The boundary which is still being worked upon is between 1.0636 and 1.1150 respectively. EUR/USD needs to break above 1.1150 to accelerate towards 1.1500 levels, going forward. The corrective drop after 1.1150 reached up to fibonacci 0.786 retracement of the previous rally around 1.0730, before turning bullish again. The overall structure remains constructive for bulls until prices stay above 1.0630 levels.
Trading plan:
Remain long, stop at 1.0636, target 1.1500.
Good luck!
