The main trend of the EUR/USD pair is up according to the 30M swing chart. The trade through the main top at the level of 1.1031 confirmed the uptrend earlier in the session.
The EUR/USD pair has rallied again during the trading session on Tuesday to reach the important 1.1031 level. If we can get through this on some type of daily close, then it is possible that we continue to go much higher.
Look! the EUR/USD pair moved somewhat higher today. Resistance is seen near the 50-day moving average at the levels of 1.1056, 1.1091 and 1.1137.
We need to wait until the uptrend channel is completed. The current price is seen at 1.1031, which represents the key level today. The level of 1.1031 will act as the first resistance line.
Hence, if the pair succeed to pass through the level of 1.1031, the market will indicate a bullish opportunity above the misor resistance level of 1.1031.
RSI (14) is seeing major support above 50% where we expect further upside movement from.
An uptrend will start as soon, as the market rises above resistance level 1.1031 which will be followed by moving up to resistance level 1.1056. Further close above the high end may cause a rally towards 1.1137. Nonetheless, the weekly resistance level and zone should be considered.
However, the price spot of 1.1137 remains a significant resistance zone. Thus, the trend will probably be rebounded again from the double bottom as long as the level of 1.0927 is not broke.
