EURUSD has broken the short-term resistance trend line and has reached once again the recent highs at the 38% Fibonacci retracement at 1.1990. Breaking above this resistance is the most probable scenario. Next we expect EURUSD to reach the 50% retracement at least if not the 61.8%.
Black lines -Fibonacci retracements
EURUSD is bouncing higher after making a higher low at 1.1880. The major low and support at 1.1835 is intact so far. Price is now challenging recent highs and we expect price to break above them for a move towards 1.2060-1.2090. Recent low at 1.1880 if broken cancels this short-term bullish view.
