Overview:
The EUR/USD pair continued moving upwards from the level of 1.1210. The pair rose from the level of 1.1210 to the top around 1.1250.
Today, the first support level is seen at 1.1195 followed by 1.1141, while daily resistance is seen at 1.1282. According to the previous events, the EUR/USD pair is still moving between the levels of 1.1195 and 1.1309; for that we expect a range of 111 pips in coming hours.
This would suggest a bullish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. Furthermore, if the trend is able to break out through the first resistance level of 1.1282, we should see the pair climbing towards the new double top (1.1353) to test it.
On the downtrend:
If the pair fails to pass through the level of 1.1195, the market will indicate a bearish opportunity below the level of 1.1195. So, the market will decline further to 1.1141 and 1.1103 to return to the daily support. Moreover, a breakout of that target will move the pair further downwards to 1.1084 in order to form the double bottom.
