EUR/USD: bulls going to deliver a new local high
There’s a “Double Bottom”, which has been confirmed, so the price reached a resistance at 1.1337 afterwards. Therefore, the market is likely going to achieve the next resistance at 1.1392 during the day. If we see a pullback from here, there’ll be an opportunity to have a decline in the direction of a support at 1.1324 – 1.1282.
As we can see on the one-hour chart, we’ve got a “Triple Bottom”, which led to the current upward movement. So, bulls are likely going to get a resistance at 1.1381 – 1.1392 in the short term. However, if a pullback from this area happens, bears will probably try to set up a decline towards a support at 1.1324 – 1.1279.