The market is betting that trend will move more aggressively above the prices of 1.0806 and 1.0870. It is raising the rate by 85 points and announcing the start a new bullish wave.
The EUR/USD pair continued to move upwards from the level of 1.0806 (bottom). Since yesterday, the pair has risen from the level of 1.0806 to the top around 1.0895.
In consequence, the EUR/USD pair broke a minor resistance at 1.0870, which turned into strong support at the level of 0.9887.
In the H4 time frame, the level of 1.0806 is expected to act as a major support today.
Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish market. The price is still above the moving average (100) and (50).
From this point, we expect the EUR/USD pair to continue moving in the bullish trend from the support level of 1.0806 towards the target level of 1.0951.
If the pair succeeds in passing through the level of 1.0951, the market will indicate the bullish opportunity above the level of 1.0951 so as to reach the second target at 1.0996.
At the same time, if the EUR/USD pair is able to break out the level of 1.0806, the market will decline further to 1.0750(daily support 2).
