Technicsal outlook:
EURUSD carved a Morning Star candlestick pattern on the daily chart at Wednesday close around 1.0850 mark. The single currency pair might be preparing to rally from here and a break above 1.0920 will encourage bulls to push further. Prices need to ideally stay above 1.0759 swing lows to keep the bullish moment intact.
EURUSD is facing immediate price sreistnce around 1.0920-40, followed by 1.1200 nd 1.1500 level. Bulls might be preparing to push through each levels in the next few trading sessions. A push through 1.1200 will also break the immediate resistance trend line and push prices through the buy zone. The currency pair will be a good buy on dips thereater.
EURUSD continues to maintain a bullish divergence on the daily RSI (not shown here). High probability remains for a strong bullish reversal from here and push through 1.1200, and 1.1500 mark in the next several trading sessions. Watch out for 1.0920-30 to break, which would be considered the first step of potential bullish reversal.
Trading plan:
Potential bullish rally to 1.1200 against 10636
Good luck!
